Vestas Wind Systems Sets Up First S$500 Million Asia Pacific HQ And R&D Centre In Singapore
Investment News From The Singapore EDB
Investment News From The Singapore EDB
Date: 01/11/2006
Wind energy is currently one of the world's fastest growing sources for renewable power. Wind technology is a primarily developed area in Northern Europe and America, and the Asia Pacific is fast catching on. The region has recognised the need to attract, develop and train a new breed of competent and highly skilled talent pool for wind technology. Singapore, with its pro-business environment, highly competent workforce and openness in developing emerging industries, was recently chosen as Vestas' Asia Pacific headquarters.
The Danish company, which has installed more than 30,000 wind turbines in more than 50 countries all over the world, is a major driving force behind advances in the wind power industry, with a 35 per cent share of the world's wind energy market. The Vestas Group employs around 10,600 people and, in addition to the new plants in China, has production facilities in Denmark, Germany, Italy, Scotland, England, Spain, Sweden, Norway, India and Australia.
Since 2005, the company has seen increasing interest in Asia for wind technology - it currently has an installed base of over 5,000 wind turbines in wind farms across China, Taiwan, South Korea, Japan, India, Australia and New Zealand.
SWEEPING ENTRANCE
With the establishment of the regional HQ in Singapore on 28 September 2006, Vestas seeks to leverage Singapore as a springboard to strengthen its presence in Asia, forge closer ties with existing customers and build relationships with new customers in fast-growing markets across the Asia Pacific.
The Singapore HQ will also host an R&D Centre which will be ready in the first half of 2007 and will employ 150 research engineers. To support this initiative, Vestas will invest up to S$500 million (US$319 million) over the next 10 years.
"The centre will be involved in increasing product reliability by evaluating new ways to maximise turbine performance through new attitudes, working practices and management techniques," elaborates Finn Strøm Madsen, president, Vestas Technology. "It will also develop new ways of working with suppliers, and places a strong emphasis on product testing."
AT TECHNOLOGY'S FOREFRONT
Vestas' core business comprises the development, manufacture, sale and servicing of wind power systems. Over the years, Vestas has built up strong specialist competence in the design and production of blades, control systems, nacelles and towers. These are essential technology components that support the company's range of turbines, which are developed to ensure the best possible energy generation.
Because of the high performance requirement of turbines which are expected to operate round the clock, 365 days a year, for at least 20 years running, heavy emphasis is placed on their fundamental design aspects and regular maintenance works.
"Vestas itself manufactures the components it cannot purchase from external suppliers in standard or slightly modified forms," reveals Madsen. "In-house manufacture of the main turbine components increases our flexibility in the context of product development. It also allows us to retain production expertise. Moreover, in connection with the establishment of local production facilities, we have the competence to transfer technologies."
"Our aim is to provide the best service in the industry, supported by strong local presence so as to achieve the highest level of customer satisfaction," adds Thorbjørn N. Rasmussen, president, Vestas Asia Pacific. "Singapore is an excellent location for our regional office as it has good infrastructure and a highly skilled workforce for us to draw upon."
TAPPING LOCAL RESOURCES
Over the years, Singapore has built up a robust ecosystem of enterprises with 115,000 local SMEs and 28,000 international companies. Within this ecosystem, it has also developed world-class, multi-disciplinary R&D capabilities in its universities and research centres.
"Vestas views Singapore as an excellent innovation and product development location," explains Madsen. "We intend to draw upon Singapore's trained work force and expertise. It will also allow Vestas to participate in Singapore's vibrant community for new technologies and leverage on the recognised expertise of local institutions."
"We are looking forward to collaborating with Singapore research institutes and universities," continues Madsen. "Already, we have identified some 20 to 40 potential R&D collaborations with A*STAR research institutes and the Nanyang Technological University."
The new R&D centre will further enable Vestas to create a global research environment, which can develop and train a competent and highly skilled talent pool for wind technology here in the region.
HARNESSING POTENTIAL
"Vestas is glad to announce that we will be taking up space at 500m2 of space at Fusionopolis Phase 1 and are looking to take up 3000m2 of space at Phase 2," announces Madsen. "By co-locating our R&D centre with other R&D companies and other research institutes, Vestas seeks to reap the synergies and immerse itself in a culture of innovation by being in a thriving R&D environment with top minds from around the world."
"Vestas is convinced that the future for wind energy in Asia is phenomenal," highlights Rasmussen. "This is supported by the fact that a number of established players from the conventional energy sector has already taken their first steps in entering the renewable energy market. As a result, a completely new market is emerging - one distinguished not only by customers becoming bigger, more professional and more far-sighted in their investments, but also by established developers and energy utilities being joined by some of the world’s largest players within fossil fuels."
Vestas' latest entry into Singapore is a boost for the Republic, which, in recent years, has identified alternative energy as a new growth sector that the country seeks to develop. Pioneering investments so far include Rolls Royce and Singapore consortium EnerTek's S$159 million (US$100 million) fuel-cell R&D collaboration, Peter Cremer's now under-construction biofuel plant and Singapore-based Solar Energy Power, which manufactures high-quality silicon solar cells for assembly into solar modules.
Cheers,
Wind energy is currently one of the world's fastest growing sources for renewable power. Wind technology is a primarily developed area in Northern Europe and America, and the Asia Pacific is fast catching on. The region has recognised the need to attract, develop and train a new breed of competent and highly skilled talent pool for wind technology. Singapore, with its pro-business environment, highly competent workforce and openness in developing emerging industries, was recently chosen as Vestas' Asia Pacific headquarters.
The Danish company, which has installed more than 30,000 wind turbines in more than 50 countries all over the world, is a major driving force behind advances in the wind power industry, with a 35 per cent share of the world's wind energy market. The Vestas Group employs around 10,600 people and, in addition to the new plants in China, has production facilities in Denmark, Germany, Italy, Scotland, England, Spain, Sweden, Norway, India and Australia.
Since 2005, the company has seen increasing interest in Asia for wind technology - it currently has an installed base of over 5,000 wind turbines in wind farms across China, Taiwan, South Korea, Japan, India, Australia and New Zealand.
SWEEPING ENTRANCE
With the establishment of the regional HQ in Singapore on 28 September 2006, Vestas seeks to leverage Singapore as a springboard to strengthen its presence in Asia, forge closer ties with existing customers and build relationships with new customers in fast-growing markets across the Asia Pacific.
The Singapore HQ will also host an R&D Centre which will be ready in the first half of 2007 and will employ 150 research engineers. To support this initiative, Vestas will invest up to S$500 million (US$319 million) over the next 10 years.
"The centre will be involved in increasing product reliability by evaluating new ways to maximise turbine performance through new attitudes, working practices and management techniques," elaborates Finn Strøm Madsen, president, Vestas Technology. "It will also develop new ways of working with suppliers, and places a strong emphasis on product testing."
AT TECHNOLOGY'S FOREFRONT
Vestas' core business comprises the development, manufacture, sale and servicing of wind power systems. Over the years, Vestas has built up strong specialist competence in the design and production of blades, control systems, nacelles and towers. These are essential technology components that support the company's range of turbines, which are developed to ensure the best possible energy generation.
Because of the high performance requirement of turbines which are expected to operate round the clock, 365 days a year, for at least 20 years running, heavy emphasis is placed on their fundamental design aspects and regular maintenance works.
"Vestas itself manufactures the components it cannot purchase from external suppliers in standard or slightly modified forms," reveals Madsen. "In-house manufacture of the main turbine components increases our flexibility in the context of product development. It also allows us to retain production expertise. Moreover, in connection with the establishment of local production facilities, we have the competence to transfer technologies."
"Our aim is to provide the best service in the industry, supported by strong local presence so as to achieve the highest level of customer satisfaction," adds Thorbjørn N. Rasmussen, president, Vestas Asia Pacific. "Singapore is an excellent location for our regional office as it has good infrastructure and a highly skilled workforce for us to draw upon."
TAPPING LOCAL RESOURCES
Over the years, Singapore has built up a robust ecosystem of enterprises with 115,000 local SMEs and 28,000 international companies. Within this ecosystem, it has also developed world-class, multi-disciplinary R&D capabilities in its universities and research centres.
"Vestas views Singapore as an excellent innovation and product development location," explains Madsen. "We intend to draw upon Singapore's trained work force and expertise. It will also allow Vestas to participate in Singapore's vibrant community for new technologies and leverage on the recognised expertise of local institutions."
"We are looking forward to collaborating with Singapore research institutes and universities," continues Madsen. "Already, we have identified some 20 to 40 potential R&D collaborations with A*STAR research institutes and the Nanyang Technological University."
The new R&D centre will further enable Vestas to create a global research environment, which can develop and train a competent and highly skilled talent pool for wind technology here in the region.
HARNESSING POTENTIAL
"Vestas is glad to announce that we will be taking up space at 500m2 of space at Fusionopolis Phase 1 and are looking to take up 3000m2 of space at Phase 2," announces Madsen. "By co-locating our R&D centre with other R&D companies and other research institutes, Vestas seeks to reap the synergies and immerse itself in a culture of innovation by being in a thriving R&D environment with top minds from around the world."
"Vestas is convinced that the future for wind energy in Asia is phenomenal," highlights Rasmussen. "This is supported by the fact that a number of established players from the conventional energy sector has already taken their first steps in entering the renewable energy market. As a result, a completely new market is emerging - one distinguished not only by customers becoming bigger, more professional and more far-sighted in their investments, but also by established developers and energy utilities being joined by some of the world’s largest players within fossil fuels."
Vestas' latest entry into Singapore is a boost for the Republic, which, in recent years, has identified alternative energy as a new growth sector that the country seeks to develop. Pioneering investments so far include Rolls Royce and Singapore consortium EnerTek's S$159 million (US$100 million) fuel-cell R&D collaboration, Peter Cremer's now under-construction biofuel plant and Singapore-based Solar Energy Power, which manufactures high-quality silicon solar cells for assembly into solar modules.
Cheers,
The Singapore Business Scene
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