wind turbine maker vestas looks at expanding into energy storage - electrical energy storage systems

COPENHAGEN (Reuters)-
Vestas of Denmark, the world's largest wind turbine maker, is keen to expand into areas such as energy storage to increase the use of global wind power and reduce costs.
The wind industry is entering a stage of slowing growth and stable demand, prompting producers to look for alternatives to increase revenue.
"The storage side is interesting and there are a lot of small beginnings --
Ups that may be interested.
"I am looking for industrial batteries," Vestas chairman Bert norderberg told Reuters . ".
"If you can store
Production in a good way can reduce the total cost.
"Energy storage is a capture of the energy generated by later use, such as the form of a battery.
With the growth of electric vehicle sales, the technology is becoming more and more feasible. In January, U. S.
Electric car maker Tesla has launched a huge battery storage facility in the California desert.
In Europe, a former Tesla executive wants to build a factory to match the size of his former employer's gigabit plant in Sweden.
Vestas can consider buying a small stake in many companies, "see which one wins before you make a major acquisition," norderberg said ". “We have 3.
"2 billion euros in cash, no debt, so we can afford to invest," he said . " He declined to say how much the company was willing to spend.
He added that he prefers to invest rather than initiate a purchase --back program. “A buy-
It's boring to come back.
It would be better if we could find something that could grow the company, so I urge management to have a better idea than buying --He said.
Vestas just returned from bankruptcy four years ago and shares have risen more than 1,000 over the past five years.
But with Siemens, Germany and Gamesa, Spain, agreeing to merge their assets in the industry, the company could lose its position as the world's largest wind turbine maker.
"We will definitely make their lives miserable.
We will accept these deals. . .
Our goal is exactly the same as the biggest player . "
While he expects smaller businesses in the industry to merge, Vestas does not intend to buy any big businesses.