|

Vestas wind turbine order backlog reaches 27 GW, valued at €28.1bn, in Q2 2024

By

Vestas reported an increase in its wind turbine order backlog, reaching 27 GW and valued at €28.1 billion by the end of Q2 2024, up from approximately 20GW and €20 billion in Q2 2023. This growth reflects strong offshore order intake in Poland and Germany, along with robust onshore orders in the USA.

The average selling price per MW rose from €1.04 million in Q2 2023 to €1.21 million in Q2 2024. Despite a 3.9% year-on-year revenue decrease to €3.29 billion in Q2 2024, Vestas expects its full-year revenue to range between €16.5 billion and €17 billion.

Order intake for offshore wind projects in Q2 2024 was 54% higher than the previous year, valued at €4.4 billion. Vestas also secured service agreements with expected future revenue of €34.9 billion. The combined value of wind turbine orders and service agreements now stands at €63 billion, an increase of €11.4 billion from last year.

Vestas has also initiated a consolidation of its technology and manufacturing divisions, expected to be completed by Q3 2024, to improve its manufacturing processes.

Similar Posts

|

Government approves NPCIL-NTPC JV for nuclear plants in Rajasthan

By

The Indian government has approved a joint venture (JV) between the Nuclear Power Corporation of India (NPCIL) and National Thermal Power Corporation (NTPC) to develop four 700 MWe nuclear power plants at Mahi Banswara in Rajasthan. The JV, named Anushakti Vidyut Nigam (ASHVINI), has been authorized to build, own, and operate nuclear power plants in India. ASHVINI, a subsidiary of NPCIL with a 51% stake, will implement the 4×700 MW Pressurised Heavy Water Reactors (PHWR)…

|

L&T secures major orders in Middle East and Africa

By

The Power Transmission & Distribution (PT&D) division of Larsen & Toubro (L&T) has won significant new orders to expand and strengthen high-voltage electricity grids across the Middle East and Africa. These orders include implementing an Energy Management System to enhance national electricity networks. One notable contract involves a consortium-led project with a leading equipment manufacturer to build Kenya’s National System Control Centre.  This transmission hub will play a key role in managing power flow, integrating…

|

Scatec ASA’s Egypt Green Hydrogen project secures €30 million grant

By

Scatec ASA’s Egypt Green Hydrogen project has signed an agreement with the PtX Development Fund, securing a €30 million grant to support the project, which has a total capital expenditure of approximately €500 million. The PtX Development Fund, created by the German Federal Ministry for Economic Cooperation and Development and KfW, aims to promote Power-to-X projects in developing and emerging countries. This funding will contribute to Scatec’s green hydrogen production efforts, aligning with the fund’s…

|

IEA report forecasts US$2 trillion clean energy market growth, challenging oil industry dominance

By

The International Energy Agency’s (IEA) Energy Technology Perspectives 2024 report predicts rapid expansion in the clean energy market, with investments in solar PV, wind, electric vehicles, batteries, electrolysers, and heat pumps expected to triple by 2035, reaching over US$2 trillion.  This anticipated growth could rival the economic scale of the global oil market, marking a pivotal shift towards a sustainable economy. IEA Executive Director Fatih Birol highlighted the interlinking of energy, industry, and trade policies…

|

BSPGCL issues tender for solar project in Patna

By

Bihar State Power Generation Company (BSPGCL) has issued a tender for procuring solar power from grid-connected solar PV projects ranging from 2 MW to 20 MW in Patna.  The project, designed as a ground-mounted installation with a raised structure over ponds, will be constructed under the RESCO mode for a total capacity of 20 MW. The contract is valued at Rs 1 billion, and the deadline for bid submission is 12 November 2024.

|

Hero Electric resumes production, seeks Rs 1-2 billion investment to scale up

By

Hero Electric has restarted production at its factory in July, initially operating on a smaller scale with limited scooter manufacturing. To return to full production capacity, the company is seeking an investment of Rs 1-2 billion from both existing and new investors, including private equity funds. The company has also responded to recent claims from some of its 800 dealers, who allege that Hero Electric owes Rs 5 billion in advances for electric two-wheelers. Hero…

Leave a Reply

Your email address will not be published. Required fields are marked *