Shanghai - German wind turbine manufacturer Nordex is to invest 50 million euro (72.3 million dollars) in China to almost quadruple production by 2011, the company announced Thursday. Nordex plans to expand its share of the Chinese market for wind turbines to 15 per cent by 2011, up from 3 per cent at the end of 2006.
The annual production capacity of Nordex's China unit will grow to 800 megawatts from the current 225 megawatts, said chief executive officer Thomas Richterich at the Shanghai Wind Power conference.
China is the second fastest growing market for wind turbines in the world and is currently constitutes 10 per cent of global the business.
Citing the large need for clean energy in Asia, Nordex plans to turn China into a base for expansion around the region.
"Nordex China is to act as our bridgehead for our forays throughout all of Asia," said Richterich.
Nordex has been producing turbines since 1998 in China and is the country's fourth largest wind equipment manufacturer. The German firm has installed more than 220 wind turbines in China, where government is increasingly looking towards renewable energies.
