The impact of the uncertain global economy and the momentary dip in the Chinese wind power market have been felt even by Finnish wind power industry players. Despite challenging market conditions, Finland-based key component manufacturer The Switch continues to aim towards international success. The company has been able to demonstrate that wind power energy can be produced cost effectively with advanced technology.
The international wind power market is currently experiencing a severe upheaval. The total market has doubled in just five years. In spite of the global financial crisis and the slowdown in China’s hyper growth, the industry is still growing at a 10% annual rate.
The financial outlook for Finland-based key wind turbine component manufacturer The Switch has remained positive, although the company has had to adapt to the slowdown in its largest market of China. The company’s success is largely due to its advanced permanent magnet generator (PMG) technology, which has enabled the company to become a pioneer in the international wind power market.
Wind energy can be produced cost effectively
The Switch strongly believes that renewable energy offers a solution to future energy needs. To become a reality, the most important factor is to produce high quality energy at the lowest possible cost. With wind power, quality is more important than quantity.
“We are committed to increase the annual energy production of wind power and to minimized associated total life cycle costs. Permanent magnet generator technology is advantageous for the wind power market, because it offers high reliability and requires less maintenance than conventional methods. Generators are also able to produce energy more efficiently at lower wind speeds. Therefore, 1.5-7% more energy can be produced per year,” says CEO Jukka-Pekka Mäkinen .
By continuously developing the reliability of energy generation equipment, it is possible to enhance cost efficiency. The tailor-made products of The Switch have a lifetime that extends up to 25 years and the equipment’s total life cycle costs can be minimized with careful planning.
Wind power is one of the few sources of energy that brings predictable returns for investors, which also promises a bright future for The Switch.
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Offshore WIND staff, May 29, 2012; Image: The Switch