Wind turbine maker Nordex to boost China capacity

[OKIsItJustMe]

http://uk.reuters.com/article/oilRpt/idUKSHA7159120071101

Wind turbine maker Nordex to boost China capacity

Thu Nov 1, 2007 6:45am GMT

SHANGHAI, Nov 1 (Reuters) - German wind turbine maker Nordex (NDXGk.DE: Quote, Profile, Research) said on Thursday it plans to invest 50 million euros ($72.3 million) in China to almost quadruple its production capacity in the country by 2011.

The annual production capacity of Nordex's China unit will grow to 800 megawatts from the current 225 megawatts, its global chief executive officer Thomas Richterich said in a news release.

"Competition is keen in China but we expect to be able to achieve a market share of 15 percent by 2011," the statement said, up from 3 percent at the end of 2006.

Nordex entered the Chinese market in 1995 and has installed more than 220 wind turbines in China, where wind power capacity is growing quickly.

The country is expected to increase its wind power generating capacity this year by at least 2 gigawatts (GW), or 77 percent, from 2.6 GW at the end of 2006, China's National Development and Reform Commission (NDRC) said in June.

The commission at that time raised its expectations for China's wind power capacity to 10 GW by 2010 and 80 GW by 2020, up from the previous figures of 5 GW by 2010 and 30 GW by 2020. ($1=.6915 Euro)