Vestas to halt production at China plant on expected weak demand

25/06/2012 00:22 Renewable


Danish wind turbine maker, Vestas Wind Systems has decided to halt production at its factory in Hohhot, China, making redundant 300-350 employees.

The phase out will include the V52-850 kilowatt and V60-850 kilowatt turbines following an expected weak market demand in the next years. The halt of the production at the Hohhot factory will come into force over the summer and will lead to annual savings of around EUR 10million. The cost of closing the factory is covered by the 2012 guidance for special items of EUR 50-100million. In spite of the termination of the production at the Hohhot factory, Vestas will remain strongly committed to China and it will honor its sales obligations and make sure that any further negotiations for kilowatt orders will be completed considering the customers’ needs and Vestas’ profitability.

Growth in global carbon emissions slowed in 2019

04/12/2019 08:56:00

A surprise drop in coal use in the United States and Europe has helped to slow the growth of global carbon dioxide emissions this year, with softening demand in China and India also contributing, according to a study published on Wednesday.


Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.


Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.