Goldwind 2011 results a reflection of China’s booming wind sector

Date: 
March 27, 2012

In sharp contrast to the dismal results of its counterparts in the solar sector, Chinese wind energy company Goldwind has announced revenues of RMB12.76bn (USD2 billion) and net profits of RMB718m for 2011.

According to the company’s results, Goldwind installed turbines with a combined capacity of 3.6GW in China throughout the year, representing the largest domestic market share at 20.4 percent. The company also improved its presence internationally, with 9.48 per cent of sales being made outside China, compared to 2.14 per cent in 2010.

Wu Gang, chairman and CEO of Goldwind, said, ‘In 2011, the group prepared for industry and market changes by focusing on innovation and accelerating product upgrades and development. We also expanded our global operations, strengthened our comprehensive solutions capabilities, and increased the operating scale of our investment in wind farms and our wind power services segment.

“We expect that after experiencing fierce price competition in the past year, the industry will gradually return to more rational competition. In the future, the industry’s focus will shift towards quality, innovation, services, new profit models, and differentiation strategies.”

Newly released figures from the China Wind Energy Association (CWEA) confirmed last week that China’s total installed wind power capacity over took that of the United States in 2011 to top the global league table.