Vestas chairman expects some countries to reinstate wind power subsidies

Wind power businesses around the world have faced margin pressure as governments phase out subsidies and move towards more competitive contract tenders

COPENHAGEN: The chairman of Vestas , one of the world’s biggest wind turbine makers, said he expects some countries to reinstate subsidies for wind power projects as governments are under pressure to build more renewable energy capacity.

Wind power businesses around the world have faced margin pressure as governments phase out subsidies and move towards more competitive contract tenders.

“I know politicians are planning to reinstate subsidies, because they are under pressure to build more renewable capacity quickly,” Vestas Chairman Bert Nordberg told Reuters in an interview.

He declined to say which countries he referred to.

Source: energy.economictimes.indiatimes