Vestas Says Chinese Market Shifting to Higher Quality Turbines - Bloomberg
Now, even the Chinese manufacturers are “challenged” by falling profitability, said Albaek.
Xinjiang Goldwind Science & Technology Co., China’s biggest maker of wind turbines by market share, on Aug. 24 said first- half profit fell 83 percent because competition intensified. Sinovel Wind Group Co., the second-biggest, two days later said first-half profit declined 96 percent.
“If you look at the reports from Goldwind, Sinovel and other large manufacturers, you can see they are challenged like the rest of the global wind industry,” Albaek said. “Their earnings are dropping. Whether you’re a Chinese company or not, It’s unsustainable not to earn money.”