Vestas Wind Systems is to sell a tower factory in Denmark to Chinese group Titan Wind Energy, allowing the world’s biggest wind turbine maker to cut costs.
“Our new towers facility here in Denmark increases our possibilities of servicing and expanding our global customer base,” said Yan Junxu, founder and chief executive of Titan Wind Energy.
“Europe is the region that offers the most promising outlook for the development of offshore wind energy,” Junxu said.
The deal came ahead of a state visit by Chinese President Hu Jintao to Denmark on Thursday. Titan Wind Energy is China’s biggest manufacturer of wind turbine towers, with annual production capacity of 1,600 towers.
Last month, Vestas reported a larger than expected first-quarter loss due to delayed deliveries and rising costs, reports Reuters.
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