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RENEWABLES / CLIMATE CHANGE TRENDS
 
Vol. VIII Issue. 31
Denmark's green Europe meets Chinese wall on Vestas cuts

17 January 2012

January 13, 2012. Denmark's push for a green Europe suffered a reality check as domestic wind turbine producer Vestas Wind Systems A/S cuts back one tenth of its workforce to survive Chinese competition and a slump in demand. Denmark, which took over the European Union's rotating presidency Jan. 1, called for an increased focus on green technologies to cut emissions and secure energy safety in the 27-nation bloc, in part to highlight the country's prowess in wind technology. Europe's ambition of leading the world in clean energy and reducing greenhouse gas emissions by 20 percent through 2020 is suffering setbacks as leaders struggle to generate economic growth against a backdrop of over-indebtedness and tough competition from markets such as China.

      
 
 
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