29 Oct '12, 3pm

Denmark Won't Help Vestas if Wind Turbine Maker Needs Rescue #windpower

Denmark Won't Help Vestas if Wind Turbine Maker Needs Rescue #windpower

Aarhus, Denmark-based Vestas, which has been hurt by higher-than-budgeted costs to develop its V112 turbine and cuts in green energy subsidies, said in July it agreed with its banks to defer a so-called test of financial covenants, delaying loan payments after losses eroded its cash flow. The government is now saying it won’t step in to bridge any periods of financial distress at the company to prevent it going bankrupt. “We cannot and will not support a single company,” said Martin Lidegaard, Denmark’s Energy Minister, in an e-mailed reply to questions. “It is against the government’s general state aid policy.” Vestas in 2012 announced two rounds of job cuts that hit more than 3,700 employees, or a sixth of its workforce, to reduce fixed costs by more than 250 million euros ($323 million). The company is struggling to stay competitive as it faces declining demand in Europ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

Tweets

Largest Offshore Wind Farm Generates First Powe...

renewableenergyworld.com 29 Oct '12, 4pm

The first 630-megawatt phase of the venture in the Thames Estuary will produce enough power for more than 470,000 homes wh...

Largest Offshore Wind Farm Generates First Powe...

renewableenergyworld.com 29 Oct '12, 5pm

The first 630-megawatt phase of the venture in the Thames Estuary will produce enough power for more than 470,000 homes wh...

Investors ask Congress 2 extend wind Production...

awea.org 30 Oct '12, 3pm

Two dozen investors with more than $800 billion in assets under management recently called for an immediate extension of t...

Lawbreaking Malaysian law maker is latest anti-#AES hero

Lawbreaking Malaysian law maker is latest anti-...

rockybru.com.my 29 Oct '12, 7am

As an assemblyman, this guy is a real ashole, whatever his feelings are as an elected representive he should respect the l...

Vestas @ZFEP 2011 winner Reaches 3 GW Of Wind E...

nawindpower.com 26 Oct '12, 6pm

says it has reached 3 GW of installed wind energy capacity in Italy, which represents 40% of the country's total installed...

Really sorry to hear about the closure of SiC p...

semiconductor-today.com 28 Oct '12, 10am

In October 2010, in order to drive the expansion of its SiC fabrication facility, Power Integrations Inc of San Jose, CA, ...

[email protected]'s Anderson: #PTC, #windpower have been g...

awea.org 29 Oct '12, 5pm

Wind power and the federal wind energy Production Tax Credit (PTC) have strongly benefited Colorado , says AWEA Siting Dir...

Negative oriented personality traits & wind tur...

awea.org 04 Nov '12, 10pm

An interesting paper has appeared on ScienceDirect, discussing the results of psychological testing and sound measurements...

Solar Equipment Maker GT Advanced Technologies Lays Off 25 Percent of Workforce

Solar Equipment Maker GT Advanced Technologies ...

renewableenergyworld.com 31 Oct '12, 4pm

The company said that when fully implemented, the restructuring would save approximately $13 million in annualized expense...

London Array Wind Farm, Soon World’s Largest Wind Farm, Begins Generating Power: Filed under: Energy News

London Array Wind Farm, Soon World’s Largest Wi...

cleantechnica.com 30 Oct '12, 3pm

The London Array, which will be the world’s largest offshore wind farm once completed, has now begun generating electricit...

Wind Turbine Engineer job with Renewable Energy...

windindustryjobs.com 04 Nov '12, 7pm

RES is one of the world's leading renewable energy developers. Drawing on decades of experience in the renewable energy an...

Gamesa To Launch Two New Wind Turbine Platforms...

nawindpower.com 26 Oct '12, 5pm

Spain-based Gamesa plans to launch two new wind turbine platforms: a 2.5 MW onshore model and a 5.5 MW offshore model, the...

Mexico Aims for 12 GW of Wind Power by 2020

renewableenergyworld.com 02 Nov '12, 8pm

"Our goal is 12 GW, and the Secretaria de Energia already has adopted that number," Blackmore said. "Studies we have analy...

Hurricane Sandy Uncovers Strength and Simplicit...

renewableenergyworld.com 01 Nov '12, 2pm

Unlike fossil fuel plants, they require no combustible fuels to generate electricity. And there is no danger that they wil...