Title: Wind Power and Business Case Certainty
Mr. Giorgio Fortunato
Head of Marketing and Communications for Asia Pacific & China
Vestas Wind Systems
China
Abstract
With record double digit GW installed in 2014 and an interesting outlook for 2015, China accounts for almost half of the world wind energy market
year on year. Moreover, this market is in a fast and continuous evolution and has undergone a fundamental shift away from emphasis on low, upfront
capital costs toward a focus on life-time cost of energy considerations – in regards to new investments and the existing fleet alike. An additional shift
toward low-wind sites for onshore wind sites has taken place, thanks to the evolution of wind power technology, now making it possible to achieve a
competitive business case where some years ago such business case was not considered viable. In addition to these developments, a renewed
commitment to tackle climate change and air pollution create a sense of urgency for the carbon-free and no-water solutions that wind power offers.
But what remains unchanged is the need for business case certainty – cost of energy reduction must not happen at the expenses of business case
certainty. With 13,000 turbines installed and a lost production factor of less than 1% on turbines under service, Vestas ensures safe return on investment
from wind power assets. This is not only achieved through technology excellence, but also thanks to state of the art operation and maintenance, which
are also some of the keys to lower loss production factor to the level achieved by Vestas in China.
Since the development of our first wind turbine in 1979, Vestas has successfully taken the lead in the global wind energy market, and has since installed
more than 66 GW in 73 countries around the world. In China, Vestas installed its first commercial turbines in Shandong and Hainan provinces in 1986
and opened its representative office in Beijing in 1999. Today, Vestas has its largest manufacturing complex located in Tianjin, and a total of 1,900
employees in China.
Vestas hopes to share through this presentation some of its knowledge about wind energy in China and its global expertise along the entire wind value
chain. This combination makes it possible year after year for the company to keep its world leading position and continue to provide business case
certainty to customers and investors.
Biography
Giorgio Fortunato is heading the GMCR function in Vestas Asia Pacific and China, being currently responsible for the Marketing, Communications and
Intelligence functions in the region. Giorgio has been with Vestas for more than 6 years in various capacities, primarily within the areas of Sales,
Marketing, and Business Development both in the HQ in Denmark and in different business units. He has led and supported wind power projects in
Denmark, Sweden, Poland, UK, Italy, China, and he has most recently being involved in the development of Vestas business in emerging markets
among which Vietnam, Pakistan, Philippines, and Thailand. Giorgio is currently overlooking a project portfolio of nearly 1 GW a year, besides working
on a few special projects and on formulation and deployment of Vestas corporate strategy across Asia. Giorgio holds a M.Sc. in Aeronautical
Engineering and a Degree in Music.
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