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Policy Vacuum Slows Wind Power in India, China, U.S.

Nov 27, 2012
Source: 
(Bloomberg)

Wind-turbine installations in India will plummet this year as lenders shun projects amid a policy vacuum in the third-biggest market for the machines, according to BlackRock Inc.-backedMytrah Energy Ltd. (MYT)

The country may install as little as 1,500 megawatts of capacity by the year ending March 31, about half what it did the previous year, said Ravi Kailas, chief executive officer of India’s third-largest wind farm developer, whose biggest investors include BlackRock and Henderson Global Investors Ltd.

Plunging demand in the world’s three biggest markets will compound the troubles for turbine makers such as Suzlon Energy Ltd. (SUEL) and Vestas Wind Systems A/S (VWS), which are facing a global supply glut and declining orders. Sales in China, the world’s largest buyer of the equipment, may slump for the first time in 2012, while additions in the U.S. may drop 88 percent by 2013, if the federal government fails to extend a wind tax break, according to Bloomberg New Energy Finance.