Vestas set for record year

Fair winds blowing for turbine giant

Wind giant Vestas is heading for a record year. The company has announced orders for turbines able to produce 5,000 MW worth of power thus far, putting the company well on track to beat its own record of 8,673 MW, which it set in 2010.

“I won’t say for sure that Vestas will beat its own record, but it will be close,” Sydbank senior analyst Jacob Pedersen told Jyllands-Posten.

Pedersen pointed at 2,400 MW of unused framework agreements in the US and 700 MW of confirmed but conditional orders still pending.

Slow but steady
“A third of Vestas’s orders come from the US, so the US market is key,” said Pedersen. “But there is a healthy mix of strong markets and a group of small and emerging markets like Brazil and Turkey that are also bringing in orders.”

Vestas itself is maintaining a conservative approach, pointing out that it can only post revenue from the turbines when they are produced and delivered.

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Pedersen predicted that Vestas’s second quarter revenues should increase by about 23 percent.