According to domestic media reports, a number of investors in the wind power industry all said that the recent foreign wind power equipment giants including GE and Vestas have all experienced significant price cuts, and the drop is even closer to 20%.
Jiang Qian, chief investigator of China Investment Advisor New Energy Industry, pointed out that there is no doubt that the current domestic market for wind power equipment is fierce, and the quotation of wind turbines, including foreign giants, has indeed declined to a certain extent. But when it comes to the latest quotations from foreign companies such as GE and Vestas, they continue to experience sharp declines, which are closely related to their dismal performance in the first quarter.
China Investment Advisor's latest "2010-2015 China Wind Power Industry Investment Analysis and Forecast Report" shows that in the first quarter of 2010, GE's energy business revenue was US$7.2 billion, a decrease of 7% compared with the same period of last year. Among them, wind energy business income fell the most, the quarter fell 20%. In the same period, Vestas’ total revenue was only 755 million euros, a decrease of 32% from the first quarter’s revenue of 1,105 million euros in the first quarter of 2009.
Jiang Qian pointed out that GE's wind power and Vestas' sluggish performance in the first quarter was closely related to the downturn in the US wind power market. In the first quarter of 2010, the installed capacity of new wind power in the United States was only 539 megawatts, a year-on-year decrease of 82.5% from 3,081 megawatts in the first quarter of 2009. This is the lowest quarterly figure in the past three years. The United States is precisely the most important market for GE wind energy. In 2009, wind power generators produced by GE accounted for 40% of the total US installed capacity. From the perspective of Vestas, the United States is currently its second largest market, accounting for about 30% of its total orders.
More importantly, the downturn in the US wind power market may not be reflected only in the first quarter of 2010. Because of the decline in energy demand and the constraints of export bottlenecks, the US wind power industry has not maintained its high-speed growth trend as expected. In 2010, the installed capacity of wind power in the United States will be around 6.5 million kilowatts, which is much lower than the 9.9 million in 2009. Kilowatts peak.
Jiang Qian pointed out that precisely because of the slowdown in the growth market in the United States, which was the key market in the past, foreign companies such as GE and Vestas naturally focused their attention on this new main battlefield in China. In order to seize the market with Chinese domestic manufacturers with strong rising momentum, it is obviously not appropriate to stick to the previous high-price strategy, and it is reasonable to cut prices substantially.
Jiang Qian, chief investigator of China Investment Advisor New Energy Industry, pointed out that there is no doubt that the current domestic market for wind power equipment is fierce, and the quotation of wind turbines, including foreign giants, has indeed declined to a certain extent. But when it comes to the latest quotations from foreign companies such as GE and Vestas, they continue to experience sharp declines, which are closely related to their dismal performance in the first quarter.
China Investment Advisor's latest "2010-2015 China Wind Power Industry Investment Analysis and Forecast Report" shows that in the first quarter of 2010, GE's energy business revenue was US$7.2 billion, a decrease of 7% compared with the same period of last year. Among them, wind energy business income fell the most, the quarter fell 20%. In the same period, Vestas’ total revenue was only 755 million euros, a decrease of 32% from the first quarter’s revenue of 1,105 million euros in the first quarter of 2009.
Jiang Qian pointed out that GE's wind power and Vestas' sluggish performance in the first quarter was closely related to the downturn in the US wind power market. In the first quarter of 2010, the installed capacity of new wind power in the United States was only 539 megawatts, a year-on-year decrease of 82.5% from 3,081 megawatts in the first quarter of 2009. This is the lowest quarterly figure in the past three years. The United States is precisely the most important market for GE wind energy. In 2009, wind power generators produced by GE accounted for 40% of the total US installed capacity. From the perspective of Vestas, the United States is currently its second largest market, accounting for about 30% of its total orders.
More importantly, the downturn in the US wind power market may not be reflected only in the first quarter of 2010. Because of the decline in energy demand and the constraints of export bottlenecks, the US wind power industry has not maintained its high-speed growth trend as expected. In 2010, the installed capacity of wind power in the United States will be around 6.5 million kilowatts, which is much lower than the 9.9 million in 2009. Kilowatts peak.
Jiang Qian pointed out that precisely because of the slowdown in the growth market in the United States, which was the key market in the past, foreign companies such as GE and Vestas naturally focused their attention on this new main battlefield in China. In order to seize the market with Chinese domestic manufacturers with strong rising momentum, it is obviously not appropriate to stick to the previous high-price strategy, and it is reasonable to cut prices substantially.
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