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Vestas Won’t Be First in Offshore Wind This Year, Engel Says

June 28 (Bloomberg) -- Vestas Wind Systems A/S won’t be first in the offshore wind market this year after capturing almost 60 percent of European installations in 2010, Chief Executive Officer Ditlev Engel said.

“We will not hand any projects over this year.” Engel said today in a London interview. When you calculate market share, it is when you hand over projects to the clients, “when they are installed and up and running,” he said.

The Randers, Denmark-based company, the world’s largest wind-turbine maker, unveiled its next-generation offshore wind turbine on March 30, a 7-megawatt machine capable of powering 6,500 homes, to vie with Siemens AG of Germany for the biggest share of the offshore wind market.

Vestas installed 645 megawatts and Siemens 381 megawatts out of a total European market of 1,087 megawatts last year, according to Bloomberg New Energy Finance. Installations in Europe accounted for 90 percent of the global total. The London-based analyst projects Siemens will install 566 megawatts out of a European total of 916 megawatts this year, with Bard Holding GmbH and Suzlon Energy Ltd.’s RePower unit the rest.

Planned U.K. laws on energy pricing and incentives will be the key to securing demand for the new turbines and the eventual construction of a factory in southeast England, Engel said. The U.K. last year awarded a third round of offshore wind licenses, paving the way for up to 32 gigawatts of projects to be built. Engel said they aren’t expected to start until 2015.

“It’s up to each of those who have won the right to develop the projects to take it forward and commit,” Engel said. “They’re not going to commit until they know what the price regime is going to look like.”

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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