China's Tianjin Economic-Technological Development Area (TEDA) announced yesterday that the world's largest wind power system provider, Vestas Wind Systems A/S, has recently decided to set up a wind turbine blade factory in the Tianjin Economic-Technological Development Area. The plant, with an investment of US$30 million, is expected to manufacture 39-meter blades for 2 MW wind turbines with the first batch expected during the first half of 2006. At full capacity, the factory will be able to produce approximately 600 turbine blades per year.
Earlier this year, the Chinese government passed a new law aimed at promoting the use of sustainable energy, hoping to create a legal framework to use the country's sustainable energy capacity. The law states that consumers are to cover part of the costs from using sustainable energy, while electricity utilities are obliged to purchase supplies from sustainable sources of energy. Relevant authoritative forecasts show that installed renewables are expected to reach 120,000 MW in 2020.
Vestas' core business comprises the development, manufacture, sale, marketing and maintenance of wind power systems, and it now accounts for a third of the global market. Since its entry to China in 1983, it has snapped up nearly 50% of the market share in relevant fields across China.
A Brief Introduction to Tianjin Economic-Technological Development Area
Tianjin Economic-Technological Development Area (abbreviated to TEDA, with ''Taida'' as its Chinese transliteration) was established in 1984, upon the approval of the State Council of the People's Republic of China. It was one of the first state-level economic and technological development zones in the country.
Located in the center of the Circum-Bohai economic circle and in the east of the Eurasia continental bridge, TEDA is a portal to such two metropolises as Beijing and Tianjin and a vital passage to Northeast China. So far more than 3300 overseas-founded companies have settled in TEDA. Among them, 93 are founded by 44 corporations of the Fortune Global 500 like Motorola, Samsung, Toyota Motor, etc. In 2000, TEDA was acclaimed by Fortune of U.S. as "the most admired industrial park of China." In 2002, it was elected by the United Nations Industrial Development Organization (UNIDO), along with five other Chinese cities and areas including Shenzhen, Suzhou, Pudong New Area of Shanghai, etc., "the most dynamic regions of China."