Market entry for wind energy: Strategic approaches for the original equipment manufacturer

Abstract

Wind energy is a valuable resource, but many developing and emerging economies (DEEs) are not utilizing the tremendous wind capacity available to them. This means there is a potential for wind turbine original equipment manufacturers (OEMs) to penetrate new markets to increase profits, and to contribute to Sustainable Development Goals. This article explores the potential triggers for wind energy diffusion and provides the basis for inclusive market entry strategies for wind power OEMs. Indications are that early wind energy path creation is driven by climate adaptation, vested interests in fossil fuels and hydropower, and the business case potential. A negative business case potential in many DEEs formed a substantial barrier. A shift to increased local value creation, collaboration with traditional power producers, and promoting wind for climate adaptation are key novel inclusive market entry strategies to open and develop new markets.

Unlocking the link between low emission supply chains, blockchain adoption, and financial success: The payoff of socially responsible practices in supply chains

“…In developing countries, most of the firms might not be able to afford technology with high‐maintenance costs (Nureen et al, 2023; Zwarteveen et al, 2022). Therefore, we proposed a cost‐effective BT‐based communication system in the internal and external supply chain process (see graphical layout, Figure 3).…”

“…In business, the real‐time green communication system increases trust, transparency, and the firm's commitment within the supply chain networks and internal management system (Kumar & Barua, 2022). Researchers in recent studies posited that using green energy and industrial BT applications increases superior advantages for improving a firm's performance by reducing operating expenses (Rane et al, 2021; Zwarteveen et al, 2022). Further environmentally friendly information and communication process is key consideration of improving firm's financial performance though minimizing costs (Chowdhury et al, 2022; Suki et al, 2023).…”

“…BT‐based cloud‐smart contract system assists firms in developing green communication networks throughout their supply chain (Lerman et al, 2022). BT‐based industrial applications are secure, efficient, low‐maintenance costs, and eco‐friendly (Hao et al, 2023), while green energy sources (i.e., photovoltaic power‐generation technology, wind power‐generation technology, biomass energy technology, hydroelectric power technology and geothermal energy technology) would ensure low‐emission electricity supply at affordable costs (Zwarteveen et al, 2022).…”