Offshore Deals Boost Vestas’ Wind Turbine Order Total in Third Quarter
Strong Demand for Turbines Drives Q3 Growth
Vestas, a leading global wind turbine manufacturer, reported a significant increase in order intake in the third quarter, driven largely by robust demand for its offshore wind turbines. The company secured a total of 5.4 gigawatts (GW) of wind turbine orders in Q3, up 15% from the same period last year.
Offshore Wind Sector Sees Notable Growth
The growth in offshore wind orders is particularly noteworthy, with Vestas securing contracts for more than 2.1 GW of capacity. This represents a significant increase of 44% compared to the same period last year. The company’s experience and expertise in the offshore wind sector have been a major factor in its ability to secure these deals, with Vestas having installed over 10 GW of offshore wind capacity worldwide to date.
Onshore Wind Market Remains Stable
While the offshore market has seen significant growth, Vestas’ onshore wind business has remained steady, with the company securing 3.3 GW of orders in Q3. This represents a decrease of 5% from the same period last year, but is still well within the company’s overall expectations.
Global Installed Capacity Reaches 113 GW
Vestas’ strong order intake has contributed to a significant increase in the company’s installed wind turbine capacity, with the global total now reaching 113 GW. This represents a growth of over 10% compared to the same period last year, and underscores the accelerating trend towards renewable energy sources.
Outlook Remains Positive
Vestas’ strong Q3 results have reinforced the company’s positive outlook for the year. The company remains optimistic about the long-term potential of the wind energy industry, driven by growing demand for renewable energy and ongoing technological advancements.
FAQs
- What was the total order intake for Vestas in Q3?
- 5.4 gigawatts (GW)
- What sector saw the most significant growth in orders?
- Offshore wind
- What is Vestas’ total installed wind turbine capacity?
- 113 GW
- What drove the growth in offshore wind orders?
- Experience and expertise in the sector, as well as significant demand for renewable energy
- What is the company’s outlook for the remainder of the year?
- Positive, driven by growing demand for renewable energy and ongoing technological advancements.
