Sinovel now second largest wind turbine manufacturer

Sinovel has bumped off General Electric at second place among the world's largest wind turbine manufacturers.

Danish manufacturer Vestas holds the top spot.

Sinovel, China's largest wind turbine manufacturer since 2008, occupied 11.1 percent of the global wind turbine market share at the end of 2010, up from 9.2 percent the previous year. The company held 23.2 percent of China's recently developed wind turbine market in 2010.

According to the annual report, Sinovel offered 4.386GW in newly installed capacity to the Chinese wind power market in 2010.

In 2010, Sinovel reported US$3.1 billion in operating income, up 48.03 percent from 2009. Operating profit climbed to 3.133 billion yuan, up 49.09 percent. Net profit rose to 2.856 billion yuan net, up 50.87 percent.

Sinovel's product mix is comprised of 1.5MW and 3MW doubly-fed wind turbines.

According to the International Wind Energy Development-World Update 2010, released by Denmark-based BTM Consult on March 28, Vestas increased its world wind turbine market share from 2.5 percent in 2009 to 14.8 percent in 2010, while GE dropped from 12.7 percent in 2009 to 9.6 percent in 2010.