Copenhagen Infrastructure Partners closes third offshore wind project with Taiwan
Copenhagen Infrastructure Partners, a clean energy fund manager, announced on Wednesday that it had reached financial closure on its 495 Megawatt (MW), Fengmiao I Wind Project, located off the coast Taichung in Taiwan. CIP announced that Fengmiao 1, its third offshore wind farm in Taiwan, would be built by local and international suppliers with proven track records.
Nordex, a manufacturer of wind turbines, expects a stronger second half following the 2024 profit forecast.
Nordex, a German wind turbine manufacturer, reported Thursday that its core earnings for the full year were above analyst estimates. The company reported earnings before interest tax, depreciation, and amortization (EBITDA), of 296 millions euros ($309.79) in 2024. This was above the analyst consensus of 284million euros. Nordex's EBITDA margin for the full year was 4.1%, which is slightly above its highest guidance.
Ukraine looks for investment in Davos to recover from the recession as Trump calls for peace
While U.S. president Donald Trump called for an end to the three-year war and Ukraine's President discussed peacekeeping forces, Ukrainian officials courted private investors to help rebuild their country this week. Oleksiy Sbolev is the first deputy minister of economy. He described a $500-billion reconstruction project that would bring both financial and strategic dividends to Western Investors…
Rosatom, a Russian company, has opened a new wind turbine blade manufacturing facility to replace Vestas.
The governor of Russia’s Ulyanovsk Region said that Rosatom, the state nuclear corporation of Russia, has opened a factory for wind turbine blades at the site of an old Vestas plant. Vestas, a Danish wind turbine manufacturer that produces blades for wind farms near Ulyanovsk, closed the plant in 2022. It left Russia 2023 with all its assets. After the…
Vestas CFO steps down; shares fall 5%
Vestas, a Danish company, announced on Wednesday that its Chief Financial officer Hans Martin Smith would step down at the end of the year. The company has already begun searching for his successor. This news sent its shares down 5,5% in the early trading. Last month, the wind turbine manufacturer reported a lower-than-expected core profit for its third quarter.
Vestas operating profit for the third quarter is below forecast
Vestas is the largest wind turbine manufacturer in the world. On Tuesday, it reported lower-than expected third-quarter profits and stated that its operating profit margin for this year will be at the lower end. In its earnings report, the company said that the higher costs in Europe, Middle East, and Africa (EMEA), and the United States were the main reasons for the lower margin.
Manager of China's Sany says that the company plans to start European production by 2026.
Sany, a Chinese wind turbine manufacturer, is planning to begin production in Europe in 2026. The company is already in advanced discussions with potential European clients. In April, the European Union launched an investigation into the subsidies that Chinese turbine manufacturers received as Europe sought to protect its own industry. "We have reduced…
Vestas Q2 loss increases, but the wind turbine unit turns a profit
Vestas, a Danish company, reported on Wednesday that its second-quarter loss had more than doubled from a year earlier. However, a focus on high-priced wind turbine projects has helped the division to return to profitability. The world's largest wind turbine manufacturer cut its profitability forecast for the full year, citing increased costs in its services business. It also warned of a loss in the second quarter.
Vestas reduces its full-year profit forecast as rising costs bite
Vestas is the largest wind turbine manufacturer in the world. On Monday, it warned of a loss for the second quarter and cut its revenue and profit forecasts for the year. The company's stock fell 5%. Vestas said that its service business, which is usually a bright point, would take a hit of 300 million euros ($327.63) in the second quarter due to sustained inflation…
Denmark's Vestas Breaks Wind Turbine Installation Record, Woodmac Says
Danish wind farm turbine builder Vestas became the first wind turbine manufacturer to install more than 10 GW of wind capacity in a single year (2019), according to new analysis from Wood Mackenzie.The Danish OEM’s grid-connected capacity of 11.3 GW in 2019 is an increase of 1.5 GW on 2018, with installations completed in over 35 markets. The company’s…
MHI Vestas Eyes Further Asia Pacific Growth. Appoints Regional Manager
Offshore wind turbine specialist MHI Vestas has appointed Masato Yamada as Regional Manager Asia Pacific to facilitate broader growth across the region.The company, a joint venture between Denmark's Vestas and Japan's Mitsubishi Heavy Industries, said Wednesday Yamada would oversee the company’s growth across the Asia Pacific region. He was formerly the company’s Chief Strategy Officer based in Aarhus…
Vestas Scores More Offshore Wind Farm Work in Vietnam
Danish wind turbine maker Vestas has won an order to deliver V150-4.2 MW wind turbines to be installed in Vietnam's Mekong Delta and has also secured a 20-year service contract - the longest such contract in Vietnam for a wind turbine manufacturer."Maintaining its successful momentum with 200 MW order intake in Vietnam last year, Vestas has now secured…
MHI Vestas Orders ABB Transformers
MHI Vestas Offshore Wind, the global wind turbine manufacturer, has selected ABB’s Power Grids business to deliver its WindSTAR transformers for the Triton Knoll offshore wind project in the UK.ABB’s WindSTAR power transformers are designed to fit inside the wind turbine and can withstand strong vibrations, sudden movements and variable electrical loading, typical of wind power.
Goldwind Wins Certification LiDAR Tech
Chinese wind turbine manufacturer Goldwind is the world’s first OEM to receive DNV GL’s Component Certification for its LiDAR Assisted Control system.The certificate is issued according to DNV GL’s own Type and Component Certification Service Specification in conjunction with the Recommended Practice for new Technology Qualification.LiDAR, which stands for “Light Detection And Ranging”…
Siemens Gamesa Ups 'Green' Credit to $1.4Bln
Wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) has increased the amount of guarantees that qualify as "green" to €1.25 billion ($1.4Bln) as they contribute to the United Nations Sustainable Development Goals (SDG).The deal, arranged with BNP Paribas, adds €350 million to the existing line of €900 million in "green" guarantees arranged…
Senvion to Sell Assets to Siemens Gamesa
Insolvent German wind turbine manufacturer Senvion is in exclusive talks with Siemens Gamesa (SGRE) over the sale of a substantial part of its business.The Germany firm said that it has entered into an exclusivity agreement with Siemens Gamesa to pursue negotiations for the sale of selected Services and Onshore assets in Europe. The agreement was approved unanimously by Senvion's creditors' committee.
AMSC Bags Wind Turbine ECS Order from AMSC
The US-based energy solutions provider AMSC announced it has received a $9 million order for its 5.5 MW wind turbine electrical control systems from the Korean power company Doosan Heavy Industries & Construction (DHIC)AMSC signed an agreement with the South Korea’s wind turbine manufacturer in calendar year 2017 for the rights to design and exclusively…
Siemens Gamesa Firms Belgian Offshore Wind Project
Spanish wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) received the order for the 487 MW SeaMade offshore wind power project in Belgium from customer Seamade NV.The wind turbines and services provider said that it includes supply and commissioning of 58 units of the SG 8.0-167 DD offshore wind turbine and a 17-year Service agreement.
MHI Vestas Signs Tower Contract, Expands in Taiwan
MHI Vestas Offshore Wind, a joint venture of Mitsubishi Heavy Industries and Vestas Wind Systems, signed a conditional contract with CS Wind/Chin Fong the local manufacture of towers, as wind industry veteran takes the reins at newly formed entity in Taipei.MHI Vestas is firming up its localisation plans in Taiwan as the company held a signing ceremony…
Senvion, Toshiba Energy Systems Form Wind Energy Alliance
Toshiba Energy Systems & Solutions Corporation and German wind turbine equipment manufacturer Senvion GmbH announced that they signed a mutually non-exclusive strategic cooperation agreement for the distribution of onshore and offshore wind power generation systems.Through this collaboration, Toshiba ESS will sell Senvion's wind power generation system in Japan…
