Page last updated at 09:28 GMT, Friday, 15 August 2008 10:28 UK

Wind turbine-maker powers ahead

Wind farm at twilight
Vestas plans to significantly increase production capacity by 2010

A surge in demand for renewable energy has led to a large order backlog for the world's biggest wind turbine-maker, Vestas Wind Systems.

The Danish firm said it had 7.2bn euros ($10.6bn; 5.7bn) worth of orders still to fulfil at the end of June, up 67% on a year earlier.

Vestas made 98m euros profit after tax in the first six months of 2008, 44% higher than the same period in 2007.

The firm is expecting further growth as the use of wind power grows globally.

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The spin behind wind power's growth

Wind power currently accounts for just over 1% of the world's energy production, but Vestas expects it to account for at least 10% by 2020.

As a result, Vestas said it would "invest heavily" in expanding the firm in order to meet the higher demand for "many years going forward".

As a result, it is planning to open new factories and expand existing plants in its major markets of the US, China and Europe, where governments have committed to an increased use of wind energy.




SEE ALSO
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Opposition to wind turbine plan
30 Jul 08 |  West Midlands
Green light for massive wind farm
21 Jul 08 |  Glasgow, Lanarkshire and West

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