Vestas Secures 660 MW Offshore Wind Order in EMEA

Vestas has secured a 660 megawatt offshore upwind bid successful the EMEA region, the turbine shaper said Monday, marking 1 of its largest additions to the company’s fourth-quarter bid book. The deal, disclosed without identifying the customer, task location, turbine model, oregon work terms, underscores continued momentum for offshore upwind procurement successful Europe contempt outgo pressures that person challenged the assemblage successful caller years.

The bid covers 660 MW of offshore capableness and includes a work agreement, though Vestas did not supply details connected the declaration duration, transportation schedule, oregon exertion platform. The project’s transportation and commissioning timeline besides stay undisclosed.

While constricted successful specifics, the announcement signals a dependable rebound successful offshore enactment crossed EMEA aft a bid of task cancellations and renegotiations successful 2023–2024 prompted by inflation, supply-chain disruptions, and debased contracted powerfulness prices. Developers person progressively returned to the marketplace arsenic governments set auction frameworks and offtake regimes to bespeak higher superior costs.

Vestas’ quality to unafraid important unnamed orders besides reflects communal manufacture practice, with large developers often withholding task accusation until each regulatory and financing milestones are complete. For investors, the measurement confirms Vestas’ ongoing competitiveness successful the offshore segment, wherever OEMs person faced mounting unit to stabilize margins.

The Danish shaper remains the world’s largest upwind turbine supplier, with much than 197 GW installed globally and a work fleet exceeding 159 GW. Offshore upwind represents a increasing information of its strategy arsenic European markets propulsion to conscionable much ambitious 2030 renewable-energy targets.

With this latest 660 MW addition, Vestas continues to physique its Q4 intake up of year-end disclosures, reinforcing a affirmative inclination for turbine bookings crossed some offshore and onshore markets.

By Charles Kennedy for Oilprice.com

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