Vestas is down from $28 earlier this summer and this article could explain why………

The Danish wind turbine manufacturer says it is ready for a comeback in the competition for sales of offshore turbines where German Siemens has taken the lead, daily paper Berlingske Tidende said.

Problems with Vestas’ V90 turbine’s gears have hampered the company’s ability to compete. ‘We took a pause when we withdrew the V90, and that hurt us enough to stay outside the market. But now we are on the way back,’ Anders Soe Jensen, director of Vestas Offshore, told the newspaper.

China has a 70% wind turbine domestic strategy where 70% of that 400 billion in green energy MUST be spent on a domestic supplier of wind turbines. Acconia was the first of many coming casualties and the domestic market of China is the only way that China will ramp sales and produce Chinese jobs for China markets.

Spanish engineering firm Acciona has sold its 45 per cent stake in a China wind turbine plant, due to disagreements over the future direction of the facility ahead of an expected industry shake-out.

Part of the shareholding was acquired by Acciona’s existing partner in the manufacturing venture, China Energine Industry (CEI). The company – a listed subsidiary of state-owned China Aerospace Science & Technology Corporation – took a five per cent stake, raising its holding in the operation to 50 per cent.

The rest of Acconia’s stake was acquired by Hong Kong-based engineering company Chook Bo Group, which took a 40 per cent holding. The remaining 10 per cent of the operation continues to be held by Inceisa, a Spanish-Chinese joint venture that promotes economic activities between Spain and China.

Acciona told Europa Press news agency last week that the move was prompted by differences on strategy with its Chinese partner and a China market that is primarily focused on developing domestic companies.

Acciona did not disclose the sale price. However, CEI, in an announcement to the Hong Kong Stock Exchange last month, said that it had paid 2.76m yuan ($400,000) for the five per cent shareholding, putting the potential total cost of Acciona’s 45 per cent stake at about $3.6m (£2.3m).

The plant, located in the industrial city of Nantong in eastern Jiangsu Province, was established at a cost of $31m in 2006. At the time, Acciona claimed that it was China’s largest wind turbine manufacturing facility and the first to be part-owned by a Spanish company.

CEI said in the stock exchange disclosure that the joint venture, Nantong Acciona, “suffered from intense competition in the domestic wind turbine market and sluggish progress made on [the] domestic production of wind turbine[s]“.

CEI added that it will now conduct independent research and development to produce wind turbines using its own technology.

Acciona’s action comes as China’s wind turbine industry is expected to consolidate. Fewer than 10 out of more than 100 manufacturers are likely to survive, according to Hu Yueming, chairman of Nanjing-based China High Speed Transmission Equipment Group, a company that supplies transmission gears to about 13 turbine makers, which collectively account for 98 per cent of China’s market supply.

China is going to shock the world in its new , revised energy policy……..

China has finally admitted it: It’s current approach to growth is unsustainable.

There just aren’t enough fossil fuels on the planet to support the developing country, says a Beijing think-tank, in a new report called “China’s Low Carbon Development Pathways by 2050.”

While this is not an official government report, Reuters says, “coming from a prominent institute that advises officials, it illuminates some of China’s key concerns less than three months before the climate pact negotiations culminate in Copenhagen.”

Chinese scientists laid out three sections to help their country achieve a low carbon solution:

1.Set greenhouse gas targets: the country should move towards a cap-and-trade market that buys and sells emissions. This would involve setting an absolute limit on emissions, a suggestion that may hurt economic growth.

2.Create carbon taxes: apply taxes to fossil fuels, natural gas, oil. The scientists propose a tax of 100 yuan ($14.6) for ever metric ton of carbon from 2010, and 200 yuan from 2030.

3.Energy market reforms: force coal-users to pay for environmental costs, and promote investment in clean energy.
The China Energy Research Institute, who wrote the report, doubts the world can keep its temperature increase below 2 degree Celsius, given the monstrous economic growth and energy consumption of the Asian giant. That ought to worry environmentalists hoping to stave off the effects of global warming.

With enough dedication and money, though, China’s emissions could peak around 2030-2035 and fall to 2005 levels by 2050. If unchecked, its emissions in 2050 will be 3.3 billion tonnes of carbon a year. The world together emits 8.5 billion tonnes now