EWEA 2015: Market reach breeds stability - Anders Runevad

FRANCE: Vestas CEO Anders Runevad tells Windpower Monthly that its market reach across 74 countries is helping it to create a stable company, following strong financial results.

Anders Runevad was speaking at the EWEA 2015 event taking place in Paris. Vestas' revenue in the third quarter increased 17% year-on-year for manufacturer as it upgraded its forecasts and began a share buy-back initiative.

"Global reach is the core of our strategy and that is something we will continues to push forward on. We have markets that are more in the development stage, markets that are maturing and mature markets. Global reach gives a company a more stable situation," Runevad said.

"There are a lot of markets that are worthwile. There are different challenges in different markets. If you look at [Vestas'] first nine months, we've taken orders in 31 countries across five continents. All in all we are present in 74 markets," he added. 

The company upgraded its entire 3MW+ plaform to have a nominal rating of 3.45MW. The series also now comprises five rotor variants, two nacelle/gearbox configurations, and a choice of 15 hub heights. A 3.6MW 'power mode' is also available on some models. 

"We continue to invest in research and development (R&D) and being the market leader, I would also claim we invest the most in R&D," Runevad said. 

"We have a very broad portfolio, both the 2MW and 3MW platforms, and that is what enables us to have the market reach we have."

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