- Published: 06 September 2006 06 September 2006
Vestas Wind Systems A/S has decided to strategically reposition itself in the Indian market.
Vestas Wind Systems A/S will through its wholly owned subsidiary NEG Micon India Pvt. Ltd. continue to focus on NEG Micon wind turbines with a capacity of 750 kW and above. Vestas Wind Systems A/S has, however, entered into an agreement with Vestas RRB India Ltd. concerning transfer of its shareholding of approximately 49 per cent in Vestas RRB India Ltd. to the Managing Director of Vestas RRB India Ltd., which means that Vestas RRB India Ltd. will become a wholly owned Indian company. Vestas Wind Systems A/S will continue to assist Vestas RRB India Ltd. in its endeavours to further “indigenise” components like blades and control systems for the wind turbine models being built by Vestas RRB India Ltd. today. Vestas Wind Systems A/S confirms its obligation to a technological cooperation with Vestas RRB India Ltd. thus enabling Vestas RRB India Ltd. to continue its business. In this way the Vestas Group believes that the market share in India, which is already growing at a very high rate, will further increase.