Goldwind to acquire technology companies
March 31, 2011 Category Alternative energy, Environment
Xinjiang Goldwind Science & Technology Co is looking to acquire technology companies that can design and create easily-transportable compact generators and for buying opportunities in renewable power batteries, smart grids, cooling systems for generators and control strategies for wind blades, Kerry Zhou, Goldwind’s Director of Strategy and Planning, said. “We will acquire companies that can help us to optimize our wind-turbine capacity,” she added. All the merger and acquisition activity (M&A) will be conducted by the parent company, Goldwind International Holding. Overseas expansion will help Goldwind to partly offset fierce competition among domestic manufacturers. The three largest domestic manufacturers ― Sinovel Wind Group Co, Dongfang Electric Corp and Goldwind ― have a combined production capacity of 8.2 GW for an annual market of 13.8 GW. Even if China’s economy continues to boom, it seems unlikely that all current domestic manufacturers will survive the tough competition, and many are expected to be squeezed out of the market. Goldwind, which is listed on the Hong Kong Stock Exchange, was ranked the global No 4 last year in terms of new wind-energy installation.The company has installed wind turbines in China, the U.S., Canada, Cuba, Pakistan and in Europe. In 2010, the Chinese Renewable Energy Industry Association said that the country had 42.3 GW of wind power and had overtaken the U.S. in terms of total installed capacity. The association said this puts China firmly on the path to reaching 200 GW of installed wind power by 2020.
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