Kuwait city: The European Union announced on Tuesday the opening of an in-depth investigation into Chinese clean energy giant Goldwind, amid concerns that it may have benefited from government support that could have distorted competition within the bloc's member states.
According to Kuwait News Agency, this investigation is part of a series of measures targeting Chinese manufacturers, as Brussels seeks to protect European industries from what it considers unfair competition from heavily state-subsidised companies, especially as Chinese exporters increasingly pivot towards the European market to avoid US tariffs.
The statement noted that the EU has "preliminary concerns that Goldwind may have received foreign subsidies that could distort the EU internal market." Goldwind is mainly active in the manufacturing of wind turbines, as well as in research and development, sales and services, and has a presence in the European market through its subsidiary Vensys and several other affiliated companies.
The EU said that preliminary investigations indicated that the Chinese company may have benefited from foreign subsidies, including financial grants, preferential tax measures and preferential financing in the form of loans, which could strengthen "its competitive position in the European market and negatively affect competition" in the supply of wind turbines and related services.
Brussels stressed that the opening of an in-depth investigation into the Chinese company does not necessarily prejudge its outcome.