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Vestas reports climb in US orders for wind turbines in Q1

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Vestas reports climb in US orders for wind turbines in Q1

Danishwind turbine manufacturer VestasWind Systems A/S said April 29 that the first quarter of 2016marked a record-high number of wind turbine orders in a first quarter for thecompany, up 37% from the same period in 2015.

Thecompany reported about 2,400 MW of orders that quarter were mostly driven by anorder from Norway. But the U.S. is one of the biggest contributors to thegrowth in orders, Vestas CEO and Group President Anders Runevad said during acall with analysts. Vestas had 400 MW of orders from the U.S. in the firstquarter, up from 341 MW in the first quarter of 2015 and 292 MW in the firstquarter of 2014.

Atthe same time, revenue for Vestas was down 4% compared to a year earlier.In its interim financial report, Vestas attributed an 8% decline in revenue forits project segment primarily to a decrease in turbine deliveries. Deliverieswere down to 1,214 MW, compared to 1,271 MW in the same quarter of 2015, whilein the U.S. specifically deliveries were down from 597 MW to 466 MW.

to the American WindEnergy Association, Vestas turbines were used in 33% of new wind capacity inthe U.S. in 2015, second in market share to General Electric Co with over 40%.In addition, AWEA recently foundthat the first quarter of 2016 had the most U.S. wind installations than anyfirst quarter since 2012.

InFebruary a joint venture from state-owned Norwegian power generator Statkraftand other companies struck a deal to buy nearly 300 Vestas turbines to use inthe construction of six wind facilities in Norway adding up to 1,001 MW ofcapacity.