Vestas narrows gap in US but still lacks firepower

On a global scale, the Danish OEM is still lagging behind last year's order level, but the North American gap is now closed after a sprint to the quarterly finish line. Newly commercialized wind turbines are, however, not the means to deprive GE of its dominance, says chief analyst.

During Q3'21, Vestas received a single order including service for a handful of the once hot-selling V110. Most orders for the US were V150'ers and Enventus machines, while the OEM still lacks a suitable turbine for the middle-capacity market. | Photo: Vestas / PR

With announced orders totaling roughly 1.5GW in recent days, Vestas has closed the quarter true to custom. Beyond doubling order intake for the period July-September, the OEM closed in on its Q3 performance from last year. Even though the combined volume of 10.473GW is still less than that of both 2019 and 2020 – bearing in mind, of course, that figures for this year also include offshore wind sales following the reacquisition from Mitsubishi Heavy Industries.

The most noteworthy development, perhaps, is the late comeback in North America. After a slow and indeed meager first half year in its largest single market, in September Vestas announced orders of 1.05GW, thereby pushing the total from this year's first three quarters well past figure from the same period last year: approximately 1.7GW against 1.5GW.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Equinor has never made this much money

The Norwegian oil giant soars skyward with its best adjusted earnings item on record following a recovery in commodity prices. Though it remains important to monitor fluctuations, CEO warns.

GE loses USD 151m from wind division

Uncertainty, supply chain pressure and delays among customers all factor into dwindling profits from onshore wind for the US-based OEM, still showing losses on offshore wind and now downgrading its full-year guidance.

Further reading

Related articles

Trial banner

Latest News

See all jobs