Reuters: Regulatory News: Vestas CEO: US market likely to drop 80 pct in 2013

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Vestas CEO: US market likely to drop 80 pct in 2013 Jun 10th 2012, 19:02 COPENHAGEN, June 10 | Sun Jun 10, 2012 3:02pm EDT COPENHAGEN, June 10 (Reuters) - The head of the world's biggest wind turbine maker, Vestas, said on Sunday that the U.S. wind turbine market is likely to fall by 80 percent next year because of the expected expiry of an important tax credit. The U.S. production tax credit (PTC) for renewable energy investment is due to expire at the end of this year, and, in an election year, it is widely believed that Congress will not pass legislation to renew it before the expiry. "In the United States, the market this year is very, very busy," Vestas Chief Executive Ditlev Engel told a gathering of EU European affairs ministers and other senior officials at Vestas' research and development centre. "But because of the potential lapse of the regulatory framework in the U.S., this market will probably go down 80 percent next year," he said. That view of the potential for a steep drop was in line with analysts' estimates cited earlier by Vestas, including in material provided to shareholders before the annual general meeting in March. But Engel's remarks made it clearer than ever that the company now also sees that as the likely scenario.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions