Between 2009 – 2011, we were spoiled by a “green race” that started as a sprint. There was an urgent need to bring Asian nations—especially China—into line with the rest of the world to use cleaner and more efficient energy sources.
Suddenly in 2012, it’s turned into something of a marathon, with companies and financial institutions involved in the market, which has been slowed by regulatory and political climates that have evolved in the face of new economic realities.
Permanent magnet (PM) technology has some clear benefits also for marine applications. Since fuel prices have gone up by 30% in only 2 years and freight rates have remained at about the same level for the past 10 years, energy savings has become hot topic in shipbuilding.
Last month’s HUSUM WindEnergy exhibition gave us firm proof that the wind power business is moving ahead again. We’re seeing movement from all different directions and positive signs that the worst may now be over. Bigger and better turbines are currently being developed to respond to future market requirements.
The wind power business has experienced difficulties over the years in different continents. In 2009, the financial crisis squeezed money from the European market. In 2010, the US market slowed down. And most recently, China cooled in 2011.
We have been able to navigate in this turbulent environment, even though The Switch, too, has experienced challenges. Many potential projects have not turned into the planned volume production. Many of our customers have experienced challenges to enter the market, changed ownership or have given up on the wind turbine business.
We have analyzed our success factors – and come to the conclusion that we embrace certain rights, giving The Switch the freedom and ability to excel even during hard times.
