In wind turbines, flow pressure variations on the air-structure interface cause aerodynamic forces. Consequently the structure deforms and starts to move. The interaction between aerodynamic forces and structural deformations mainly concerns aeroelasticity. Since these two are coupled, they have to be considered simultaneously in cases which the deformations are not negligible in comparison to the other geometric dimensions. The purpose of this work is to improve the simulation model of a vertical axis wind turbine by modifying the structural model from undamped Euler-Bernoulli beam theory with lumped mass matrix to the more advanced Timoshenko beam theory with consistent mass matrix plus an additional damping term. The bending of the beam is then unified with longitudinal and torsional deformations based on a fixed shape cross-section assumption and the Saint-Venant torsion theory. The whole work has been carried out by implementing the finite element method using MATLAB code and implanting it in a previously developed package as a complement. Finally the results have been verified by qualitative comparisons with alternative simulations.