Thursday, March 24, 2005

European Wind Power Helped by Danish Report

MADRID - Shares in Europe's biggest quoted wind turbine companies Vestas Wind Systems, NEG Micon and Gamesa rose last week thanks to a report estimating the global wind power market would grow by 11 percent a year between now and 2007.
Shares in Vestas added 2.9 percent, NEG tacked on 3.6 percent and Gamesa gained 2.4 percent by 1200 GMT.
The growth forecast is lower than windpower consultancy BTM's last five-year estimate a year ago but even so wind power production is expected to rise 24 percent this year alone and by 2012 should account for two percent of world electricity consumption.
"Gamesa's rise is related to this news," said Mariano San Martin, a trader at Spanish broker Ibersecurities.
Danish companies Vestas and NEG Micon rank first and third among world wind power producers with Germany's privately-owned Enercon second and Gamesa fourth.