Denmark's Vestas Wind Systems, the world's leading wind turbine manufacturer, has announced in a press release that it has inaugurated its regional R&D Hub for Asia in Fusionopolis, Singapore. The opening marks the first milestone in the company's 10 year plan to invest up to SGD 500m in Singapore to advance research in wind power technologies.
The R&D centre is one of Vestas' largest outside Denmark and is located in Singapore's Fusionopolis, a new science and technology complex that brings scientists, engineers and technology experts from public sector research institutions and the private sector under one roof.
Activities at Vestas regional R&D Hub will comprise high quality technology research, new component and sub-system development, as well as innovation in product development to maximise wind turbine performance, product reliability and reduction in wind energy costs.
Finn Strøm Madsen of Vestas Technology R&D says: "Drawn to Singapore's culture and reputation for research and innovation, robust intellectual property laws, ethical frameworks and governmental support for the industry, Vestas is confident of leveraging our new R&D Hub to consolidate our leadership position globally, and to propel our growth in Asia, where the role of wind energy in powering the world's long-term energy sustainability is increasingly being recognised."
Vestas is headquartered in Randers, Jutland, and employs 17,000 people worldwide. The company has installed more than 35,000 wind turbines in 63 countries on five continents, and has a 23% share of the world market. In 2007, Vestas generated revenues of EUR 4.9bn and profit after tax totalled EUR 291m. The company has production facilities in Denmark, Germany, China, India, Italy, UK, Spain, Sweden, Norway, Australia and USA, and has planned or operational research facilities in Denmark, Singapore, India (Chennai), USA (Houston) and UK (Isle of Wight).