Marine Link
Sunday, September 25, 2016

Vestas Sells Wind Turbine Tower Plant

June 14, 2012

Vestas has sold its wind farm turbine tower facility in Varde, Denmark, to China's Titan Wind Energy (Suzhou)

Titan Wind Energy (Suzhou) Co., Ltd. is China’s largest global manufacturer of wind turbine towers and already a long standing supplier to leading turbine manufacturers including Vestas.

The acquisition of the towers factory in Varde will establish Titan Wind Energy’s global manufacturing footprint in Europe, while also maintaining a vast majority of the approximately 120 jobs at the factory in Varde.

The agreement carries a number of advantages for all parties involved:
    •    Titan Wind Energy establishes European production of towers for both onshore and offshore wind turbines
    •    About 120 highly specialised ”greentech” jobs are maintained in Varde, Denmark.
    •    The facility in Varde is ideally positioned to support the further globalisation of Titan Wind Energy’s operations.
    •    The divestment of the towers facility in Varde will reduce Vestas’ fixed costs

Going forward, both Titan Wind Energy and Vestas say they see a huge potential in the continued cooperation.

”We have been cooperating with Vestas for several years, both in China and abroad, and we look forward to further utilising our long-standing partnership within the development and production of technology-leading towers for wind turbines,” says Mr. Yan Junxu, Founder and CEO of Titan Wind Energy (Suzhou) Co., Ltd.



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News