Changes
/* Key Insights */
==Key Insights==
*; Amendment in Chinese Renewable Energy Law results in tremendous Growth opprtunities for Vestas
** In 2010, the Chinese government revised the Wind-Power Sector targets to 150 GW by 2020 and also '''abolished the 70% local content requirement'''; while continuing their policy for R&D support, Reduced Tax Rates and Tax Rebate on import of components. New requirements for manufacturers to be eligible for tax breaks, land use and government loans are suited for large turbine manufacturers.
** '''972 MW order intake in 2010''' - Vestas’ order intake in China has quadrupled to a new record in 2010. It also had a record-high Chinese exposure in 2010 (19% of volume)
** In 2010, Vestas announced '''$50 million investment''' over 5-years period to develop its R&D facility in China.
** Vestas has also formed '''strategic relationships''' with leading Chinese players like Longyuan, Datang and Huaneng
<br>
*; Vestas favors US over emerging markets in Asia (excluding China)
** Vestas favors the Americas, especially the U.S., in its growth strategy given the '''growing legislative support''' for renewable energy sources in the area. Though only 6% of the U.S. has strong wind resources, these resources could supply 150% of the current U.S. energy consumption - but only if they were fully developed with turbines.
** Since the passing of the American Recovery and Reinvestment Act, by May of 2009 '''$118 million''' has been announced to support the wind industry. Notably, in April of 2009, through the Department of Energy (DOE), $93 million was allocated to support further development of wind energy in the U.S.
<br>
