The chief executive of Vestas Wind Systems, the largest maker of wind turbines in the world, said today that sentiment in the market is picking up in the U.S. and China.
Ditley Engel, who heads the Danish firm, also compared his industry against the struggling credit markets in comments to CNBC on Tuesday after the firm reported that its net profit jumped 70 percent.
We’re hearing a lot of bad news on the industry, but it looks like the renewables industry is having somewhat of a different life than what you see in the credit situation, Engel said.
However he noted that credit markets have affected the renewable energy industry. Engel said it is taking longer for credit markets to fund projects but he confirmed there still a lot of activity. Especially in North America, the stimulus package is starting to have impact on the industry, he added.
Vestas today kept its full-year guidance. Engel said that the company is also maintaining its investment programs, especially in the U.S., and confirmed the firm hasn't seen any cancelations in the backlog.