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Wind Turbine Maker Vestas Plans Solar, Storage Businesses

Denmark-based Vestas Wind Systems A/S plans to add solar power and energy storage products to its world-leading wind turbine business to give the firm a hybrid renewable energy system that can generate and sell electricity 24 hours a day.

The company’s installed base of wind turbines accounts for more than one-sixth of the global installed base and generates in excess of 84,000 megawatts (MW). Total global wind-generation capacity was 486,000 MW at the end of 2016, according to the Vestas website.

But the company’s CEO, Anders Runevad, told Bloomberg News in a phone interview that the company is about to change:

We broaden the …
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