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Goldwind launches Danish unit as revenues leap 70%

DENMARK/CHINA: Goldwind has confirmed it has opened a research and development subsidiary in Denmark, as the Chinese manufacturer reports revenues of CNY 30 billion ($4.6 billion).

Goldwind has established a Danish R&D subsidiary
Goldwind has established a Danish R&D subsidiary

In a statement, Goldwind said its new subsidiary would help the company remain up to speed with industry developments.

"As part of our active R&D programme, Goldwind has established a new subsidiary in Denmark, which will track technological research and industry development. Through its R&D efforts at home and abroad, Goldwind has demonstrated a strong commitment to provide leadership in wind technology," the statement read.

Goldwind follows compatriot Envision Energy in setting up a research and development division in Denmark, where Siemens and Vestas also carry out much of their R&D.

In its financial results, Goldwind reported its operating profit increase 49% to CNY 3.05 billion on the back of strong turbine sales.

According to Bloomberg New Energy Finance and preliminary results by FTI Consulting, Goldwind was the world's top OEM in 2015 by installations, with 7.8GW of new capacity in 2015.

It is the first time a Chinese manufacturer has topped the list.

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