Danish wind energy company Vestas announced Tuesday that it would restructure its China sales business unit in line with China's energy regulator's new auction policy for wind projects.
Vestas said the decision was taken following a recent announcement by the energy regulator of a policy that requires future wind projects to be awarded through an auction system focusing on grid parity by 2020 and government approvals.
In the new organizational structure, under new leadership Beijing will remain the headquarters but three sub-regions covering China North, China Central and China Coastal will be included, the statement said.
'The restructuring will cater to the three sub-regions' different needs that include auction mechanisms, corporate power purchase agreements and the specific challenges posed in China’s coastal regions,' it added.
Juan Araluce, executive vice president and chief sales officer at Vestas, said the company expected to further strengthen its position in the Chinese market by transforming its business model to fit the new auction system.
'The world’s largest wind energy market continues to increase its focus on creating a sustainable energy mix and introducing policy that aims to accelerate the adoption of renewable energy,' the press statement said, adding the restructuring aimed 'to capture the future growth opportunities created by this new auction system'.
Vestas designs, manufactures, installs, and services wind turbines across the globe. The company has installed 92 gigawatts of wind turbines in 79 countries to date.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr