Most recently, China's energy regulator has announced policy that requires future wind projects to be awarded through an auction system focusing on grid parity by 2020 and government approvals. To capture the future growth opportunities created by this new auction system, Vestas will restructure its China sales business unit.
The restructuring includes three sub-regions covering China North, China Central and China Coastal, and new leadership. Beijing will remain the headquarters. 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.
Going forward, Vestas China will have a co-leadership team consisting of Thomas Keller, currently Vestas China Chief Financial Officer, and Anne Vedel, Vice President, Product Management China, while Kebao Yang, current Vestas China Group Senior Vice President, will continue as Non-Executive Chairman reporting to Vestas Chief Sales Officer, Juan Araluce. Vice President, Sales, Ken Xu will continue to be an instrumental part of the commercial efforts in China.