Runevad: We must invest our way out of price squeeze

The wind turbine industry is challenged by a price squeeze, and Vestas' CEO says the company will invest its way out of its difficulties in order to limit costs.

Vestas' stock price declined significantly at the end of last year after the quarterly result showed that the Danish turbine manufacturer was harder hit by the price squeeze than had been expected. Vestas CEO Anders Runevad now says that the company is investing in new technology in order to limit costs, reports the Danish business daily Børsen.

Runevad also emphasizes certain advantages of the price squeeze: It makes the order volume increase, and he points out that the EU has begun discussing to what extent it would be possible to increase the proportion of renewables from 27 percent by 2030 to 30-35 percent, on account of significantly lower prices.

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