ABSTRACT
Technology research and development (R&D) was broken up, with parts of it going to the new Global Solutions and Services division – tasked with increasing revenues from outside the core area of turbine sales – and a new Turbines division headed by former Technology R&D Vice-President Anders Vedel. Most of the blame for the company's trouble seemed to be apportioned to the company's R&D department, which had underestimated costs on the development of Vestas' flagship V112 wind turbine and its Gridsteamer technology. Indian company RRB Energy and its London-born owner Rakesh Bakshi were Vestas' original joint-venture partners in India. The two companies parted ways in 2006 when Vestas sold its 49 per cent stake in Vestas RRB after acquiring NEG Micon, which had its own presence in India. However, they maintained close ties, with Vestas agreeing to focus on 750kW-plus turbines and RRB concentrating on smaller machines.
