EnergyWatch

Europe is no longer Vestas' biggest market

Despite capacity in the wind turbine manufacturer's orderbook rising by one fifth, the value of the orders cannot keep up.

Photo: Vestas

The wind industry is under price squeeze due to the transition to tender models around the world. This is one of the major conclusions to be drawn from Vestas' 2017 annual report, where revenue declined by 3 percent to EUR 9,953 million, while the operating result decreased by 13 percent to EUR 1,230 million.

However, the price pressure is far from the only shake-up evident in the report, which also points to a significant geographical shift among the turbine manufacturer's three regions, which cover Europe and Africa (EMEA), North and South America (Americas) and South and East Asia, including Australia (APAC).

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