We are not sure if their rules are consistent, Eurus Chief Executive Tetsuro Nagata, said.
Nagata also said that Eurus was looking to set up a wind farm project in South Korea, where it has already entered the solar power business, and sees potential in the Philippines, Taiwan and India, where wind is strong and consistent.
India is stable. But the country is the hardest hit by the financial crisis, with funds from rich countries being pulled out and several projects on sale, Nagata, said.
Our focus is now on the United States, which also has a high potential in the solar power business, Nagata, said.
US wind energy installed capacity rose by 50% in 2008 to 25 gigawatts, according to US industry data, exceeding Germany. But the country will face a slowdown before growth in the wind farm sector picks up to 20%-30% a year, Nagata said.
It’s going to be chilly business conditions for a while, Nagata said. Although the company had no plans to cancel or sell any of the projects in progress, it also had no plans to buy projects from rivals, he said.
Eurus runs wind farms in Japan, South Korea, Spain, Italy, UK and the US, many with local companies. Its wind farms have gross generating capacity of 1.74 gigawatts. Out of that, Europe gets 40%, the US 30% and Japan 20%.
