Vestas With Strong Order Intake at The End of The Year - Share Price Benefits

Münster, Germany - The Danish wind turbine manufacturer Vestas recorded remarkable order momentum in the last two weeks of 2024, at the end of the fourth quarter. Numerous orders were reported during this period. This has had a positive impact on the development of the Vestas share price.

Since December 20, 2024, Vestas has announced orders with a total volume of 2,334 MW, with a focus on the USA. This is followed by Europe with orders from Denmark, Germany, France, Italy, Latvia, Poland, Portugal and Spain. Vestas was also successful in Australia, Japan, South Africa and Guatemala. In addition to the delivery of wind turbines, the orders also include long-term service and maintenance contracts.

Orders focus on the USA and Europe

At 839 MW, the largest order volume relates to onshore wind projects in the USA. At 270 MW, the largest project involves the delivery of 60 V163-4.5 MW turbines. Further projects with 203 MW each are also being implemented with the V163-4.5 MW turbine type. However, Vestas does not provide further details on the customers and projects. Laura Beane, President of Vestas North America, emphasized that the orders not only meet the demand for domestic energy, but also contribute to strengthening the energy independence of the USA and thus provide positive impetus for the overall economic energy supply.

In Europe, 14 projects with a total capacity of 719 MW have been announced since December 20. The largest order comes from Spain, where the leading energy group Iberdrola has placed a 99 MW order with Vestas for the repowering of the Molar de Molinar and Isabela wind farms in Castilla-La Mancha. The contract includes the supply and installation of a total of 11 V150-4.5 MW and 11 V136-4.5 MW wind turbines and a 10-year service contract. The 22 new, more powerful turbines will replace the 139 outdated existing turbines that have been producing wind power at the sites to date. A further, unspecified order from Spain also comprises 11 V150-4.5 MW turbines. Other orders from Europe relate to projects in Germany, France, Denmark, Italy, Latvia, Portugal and Poland.

Orders for onshore and offshore projects for 408 MW from Japan - further orders from Australia, South Africa and Guatemala

At the end of the year, Vestas received orders in the Asian market exclusively from Japan. The total order volume amounts to 408 MW. The largest single order comprises 315 MW for the Oga Katagami Akita offshore wind farm project in Akita Prefecture, which is to be realized with 21 V236-15.0 MW turbines. This order marks the first firm order for the powerful Vestas 15.0 MW flagship turbine in the Asia-Pacific region. In addition, Vestas secured three onshore projects with a total capacity of 93 MW in Japan at the end of the year.

Vestas also received further orders for a total capacity of 213 MW from Australia, South Africa and Guatemala.

Share price performance

The positive business development was also reflected in the Vestas share price. At the end of the year, the Vestas share price rose to EUR 13.16 (as at December 30, 2024, Stuttgart Stock Exchange). This upward trend continued on the first trading day of the new year, with the share price rising by 8 percent to EUR 14.17 yesterday.

Source: IWR Online, 03 Jan 2025