A Gale-Force Storm

A decade ago China had no sizeable wind turbine makers. Now, with Chinese makers occupying four of the top 10 slots in the industry, come market rumors that a Chinese company might bid for Vestas, the world's largest wind power company. Winds of change are coming through China and blowing through the business.

Recent speculation that one of China's top wind turbine makers, Sinovel or Xinjiang Goldwind, might make a bid to acquire Danish wind turbine giant Vestas reflects an industry that is going through unprecedented turmoil as selling prices fall and profits evaporate as a clutch of Chinese companies jostle for position. Even if the rumors come to nothing, the mere fact that the speculation in a Danish newspaper is being taken seriously is a sign of China's wind turbine makers' newfound importance.