Buy-Local Rules Make Vestas Wind-Market Loser: Corporate Brazil



Visit website

Bloomberg Businessweek

Vestas Wind Systems A/S (VWS) and Suzlon Energy Ltd. (SUEL), the two biggest wind-turbine suppliers by sales, are losing market share in Brazil because they don’t use enough parts made in South America’s fastest-growing market.

Neither company has landed a new deal in Brazil in more than 18 months as the country’s development bank BNDES shut off their access to state-backed debt that’s helped drive an installation boom. They didn’t get any orders after an August auction for 1.5 gigawatts of planned wind farms and may be excluded from two more bids this year, said Helena Chung, a Bloomberg New Energy Finance analyst.