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Head Lines

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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. taking the global order intake for the company in 2017 to 10.6 GW, surpassing 2016’s record order intake of 10.5 GW. The 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 favourably with the company share price experiencing an increase of 5%. 

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Volkswagen Strongly Commits To E-Mobility And Digitalisation, Investing €34 Bn

The Volkswagen Group has made a major announcement regarding its strategic goals until 2025. By the end of 2022: more than €34 billion is planned for the development of e-mobility, autonomous driving, new mobility services and digitalisation. Financial markets reacted positively to the Group’s strategic focus and Volkswagen’s share price were back at the pre-crisis levels. CEO Matthias Müller stated “We are reinventing the car. To achieve that, we are making targeted investments to provide the necessary funds from our own resources.” The Group has said it would electrify its entire model portfolio by 2030. 

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Beyond Petroleum. BP Returns To Solar; Following Shell, Total Into Clean Energy

BP and Lightsource have announced a strategic partnership combining BP’s global scale with Lightsource’s solar expertise. BP will acquire 43% equity share in Lightsource for $200 million, with the majority of the investment funding Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP. BP is not alone in moving away from oil and gas and towards clean energy. Anglo-Dutch Shell is purchasing electric car infrastructure companies, France’s Total is acquiring battery storage firms and Norway’s Statoil is pioneering floating wind farms.

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Vestas Strengthens In India. Wins 250 MW Wind Project: Its Largest Order To Date

Vestas’ has just gained strength in a strategically significant market for the company. Its extensive experience from around 4 GW of turnkey projects across the globe has secured its largest project in India to date. The record order was placed by Ostro Kutch Power Private Limited and awarded through India’s first wind power auction held in February 2017. The 250 MW turnkey order follows another 100 MW turnkey project in India earlier this year, taking the total order intake in India to more than 480 MW in 2017. The project starts in the third quarter of 2018, and includes delivery, installation, commissioning and servicing of the 125 turbines.

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EDF Commissions 179 MW At Two Solar Power Plants In Nevada

Policy makers led by US Senator Harry Reid were present at a celebration formally recognising Switch Stations 1 and 2 solar power plants, with a combined generation capacity of 179 MWac, as fully commissioned and in commercial operation. Senator Reid stated “Less than a decade ago, Nevada’s solar energy landscape was nonexistent, but this commissioning helps fulfil the vision I had to make our state the leader in renewable energy development. A technology giant like Switch committing to using 100% renewable energy is truly visionary and grows our clean energy economy by creating hundreds of good-paying construction jobs here.”

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Renewable Future Challenges UK And Germany To Build Flexibility In Power Systems

A new economic study highlights that future energy systems in the UK and Germany, with very high levels of variable renewable generation, must be complemented by flexible resources, including energy storage. The study was released by Bloomberg New Energy Finance (BNEF). “This study highlights a seismic shift in how power systems will operate in the future. As wind and solar become the cheapest options for power generation, the race is on to develop and deploy the flexible resources that will complement them,” said Albert Cheung, head of global analysis at Bloomberg New Energy Finance.

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Google Leads The Way In Purchasing Clean Energy; Signs 196 MW PPA With Avangrid

Google has reached power purchasing agreements with Avangrid Renewables for 196 MW of wind power. The agreements cover two wind farms, producing enough energy each year to power 50,000 households. The additional capacity helps Google reach its goal of purchasing enough renewable energy to match its energy use in global operations. Gary Demasi, Google’s director of global infrastructure stated: “with solar and wind declining dramatically in cost and propelling significant employment growth, the transition to clean energy is driving unprecedented economic opportunity and doing so faster than we ever anticipated.”

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Siemens Gamesa Strengthens Lead In India With New Order For 200 MW Wind Farm

The agreement is a strong, positive development for the company in the Indian market in the wake of its temporary slowdown. The agreement encompasses the entire infrastructure needed to operate the project together with the supply of 100 of its G114-2.0 wind turbines with a hub height of 106 meters, specifically designed for the low-wind sites typical of India. The project is expected to be commissioned by February 2019. Present in the market since 2009, Siemens Gamesa has installed over 5 GW in India and the company has been the leading OEM in India for the last three years.

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Pico Alto Highlights The Increasing Significance Of Geothermal In Energy Mix

The inauguration ceremony of the Pico Alto 4 MWe geothermal power plant was held recently in the stunning scenery of the Terceira Island, Azores. The plant is now providing a sustainable, reliable source of electricity to 56,000 inhabitants and meeting up to 10% of the island electricity needs. Marco Bonvini COO of EXERGY stated, “we are very proud of the successful completion of this challenging project. It represents a great example of how innovation in greentech can provide sustainable solutions. We see many opportunities to apply the technology in remote environments and Pico Alto is a good starting point and an excellent reference.”

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Vestas, Fortum Lead Expansion Of Wind Energy In Huge Russian Electricity Market

Following the success of Vestas and Fortum Energy in Russia’s first wind energy auction, the two companies have entered into an agreement, engaging Vestas to supply its 4 MW platform for wind energy projects in Russia, the world’s fourth-largest electricity market. With this, the companies hope to lead the expansion of wind energy in Russia. They will work with local partners to establish a strong local manufacturing and supply chain capacity; and Vestas will also provide its considerable experience to build up and establish high standards for the relatively young Russian renewables sector.

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Siemens Gamesa Sets Records: Largest Thailand Order And Asia’s Tallest Turbines

Siemens Gamesa Renewable Energy has significantly enhanced its positioning in the Asia Pacific, having secured its largest-ever contract in Thailand; a market in which it is the leading OEM, responsible for more than 50% of the country’s total installed capacity. The company will supply a local developer 103 of its G126-2.5 MW turbines (260 MW) at the Hanuman wind complex, Chaiyaphum, northeast Thailand. The project also entails installing Asia’s highest wind turbines: with a tower height of 153 metres and blade length of 62 metres and total height of 215 metres.