8 January 2018 2018 01:07 PM GMT

Vestas Sets 10.6 GW Record In 2017 After Year-End Surge; Ups Cashflow Guidance

Vestas has received a firm and unconditional order for 190 MW of 4 MW platform turbines in the U.S. that takes Vestas’ global order intake in 2017 to 10,595 MW, surpassing 2016’s record order intake of 10,494 MW. The 2017 order intake is based on announced orders in all four quarters of 2017 as well as unannounced orders in the first three quarters of 2017. Unannounced MW of orders received in the fourth quarter of 2017 will be disclosed in the annual report in February 2018.

The development, construction, and operation of these turbines will deliver substantial economic impact for both the local and state economies, including funds from additional tax revenue, landowner payments and other contributions to the local community, and the creation of both part-time and full-time permanent local jobs. In 2016, the wind industry added jobs nine times faster than the overall U.S. economy, and today there are more than 102,000 wind workers.

This surge of orders at the end of the year has resulted in the company revising its guidance for free cashflow upwards. It now expects the free cashflow for 2017 to be €1.15bn-€1.25bn, as compared with the previous guidance of €450m-€900m. Markets have reacted very favourably to the announcements with the company share price experiencing a significant increase of 5%.  However, this is still well below the peak from last year, due to the concern from investors about the US possibly ending its subsidies for wind power.

Vestas designs, manufactures, installs, and services wind turbines across the globe, and with 87 GW of wind turbines in 76 countries, it has installed more wind power than anyone else. Through its industry-leading smart data capabilities and more than 73 GW of wind turbines under service, it uses data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Vestas has more than 22,700 employees worldwide and is one of the companies spearheading the energy transition.

Image: Courtesy of Vestas Wind Systems A/S

September 20th 2018
Battery Boom: Wind And Solar Can Generate Half Of Worldwide Electricity By 2050

Coal is to shrink to just 11% of global electricity generation by mid-century, from 38% now, as costs shift heavily in favour of wind, solar and batteries. Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 due to reductions in cost. “Cheap battery storage means that it becomes increasingly possible to finesse the delivery of electricity from wind and solar so that these technologies can help meet demand even when the wind isn’t blowing and the sun isn’t shining. The result will be renewables eating up more and more of the existing market for coal, gas and nuclear.”

September 22nd 2018
MHI Vestas Signs Firm Order for Largest MW Project in Company History

MHI Vestas Offshore Wind will supply 90 of its flagship V164-9.5 MW turbines for the 860 MW Triton Knoll Offshore Wind Farm project; its largest MW project to date. MHI Vestas celebrated the financial close of the deal with innogy, at the site, confirming the project as the largest (MW) in the history of the turbine company. Affirming its strengthening position in the UK offshore wind market, the Danish-Japanese joint venture will supply 90 of the world’s most powerful commercially available turbine, the V164-9.5 MW, and has agreed on a comprehensive 5-year O&M agreement.

September 29th 2018
IRENA: Innovation Front and Centre, As Leaders Shape the Future Energy System

Participants from more than 80 countries explored the disruptive innovations in digitalisation and decentralisation that are transforming energy systems around the world. Remarkable cost reductions driven by technological innovation and an increasingly conducive policy environment have made renewable energy increasingly competitive with conventional fuels in many parts of the world. In parallel, innovations such as the Internet of Things, blockchain, artificial intelligence, smart charging of electric vehicles, and hydrogen power and storage are making energy systems increasingly integrated and flexible and are supporting the transition to a renewable-powered future.

September 21st 2018
Ingeteam Develops New Optimal Offshore Power Conversion Architecture

Ingeteam, an independent global supplier of electrical conversion and turbine control equipment, has announced that a recent in-house R&D study allowed them to work out the optimal electrical power conversion designs for offshore wind turbines up to 15 MW. The research, taking into account the complex set of parameters at play in LCoE, enabled it to develop a Medium Voltage Power Converter reaching up to the 15 MW power range. Ingeteam claims that its new design is the ideal solution for scaling up offshore turbine platforms and will present its converter and the associated research at the Global Wind Summit in Hamburg next month.

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