ees 2019
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

January 30th 2019
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to the report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

January 25th 2019
Wind: China Maintains Emerging Markets Top Spot Following 19.7GW Build Boom

Wind industry intelligence service A Word About Wind has launched its Emerging Markets Attractiveness Index report for 2018, which provides insight and analysis into the most attractive emerging markets for wind companies. The index, now in its second year, ranks the top 30 emerging markets that investors should consider when investing in wind in Europe, Africa, Asia and Latin America. The list considers factors including political and economic stability for investors, alongside the growth of electricity demand and potential for wind growth, in order to rank the countries by overall potential. As with last year’s report, China tops the list and the ongoing trade war with the US shows no sign of slowing China’s formidable growth.

January 25th 2019
Arsenal Unveil Battery Storage System: First Of Its Kind At A UK Football Club

Arsenal Football Club has unveiled a battery storage system (BSS) to store enough energy to run the 60,000 seater Emirates Stadium from kick-off to full time. It follows a unique collaboration with Pivot Power to install a 2MW/2.5MWh lithium ion BSS, with funds managed by Downing LLP. The project, the first of its kind in the UK, will also save club money as it works to support low-carbon plans. The BSS allows Arsenal to avoid peak power prices, buying electricity when it is cheap and storing it for use when prices are high. Typically, energy can cost three times more at peak times than overnight. The installation maintains Arsenal as the leader in sustainability in sport following its commitment to clean energy with Octopus Energy in 2016.

November 16th 2018
India: Improved Monsoon Winds Help Power Producers in 2018 

After a prolonged period of decline, wind speeds in India during the 2018 monsoon season were significantly higher than normal; and up to 20% higher than long-term averages in some regions. These higher wind speeds benefit wind farm production; welcome news for wind energy operators and investors, who have faced several years of lower-than-normal wind energy production during the monsoon period. These increased wind speeds can thus counter recent patterns of decline contributing to an increase in investor confidence with a data-driven approach.

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