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Vestas dashes off over 1 GW of orders in last week of Q1

Danish wind power specialist Vestas has pushed through a rush of orders to close out its Q1, listing deals for about 1.38 GW of wind energy in the week before the quarter closed. Deals ranged from the US, Latin America, to its home Country, and the Far east. Final delivery on these deals varies from some to be complete in 2019, to some that will only be handed over in late 2020 (see table below).

Almost all the deals include 20 odd years (or longer) of software and support, and it has signed a completely new deal with Novatus Energy in the US to support seven wind projects totaling 1,043 MW, effectively extending ten year support deals further out.

Vestas put its numbers out in February for 2018, with revenue over €10 billion, and margin at 9.5%, generating €418 million in free cash flow, down on the previous year, on orders  up from 11.2 GW to 14.2 GW. Vestas increased its order backlog by €2.2 billion to €14.3 billion. Its guidance for 2019 was a wide range between €10.75 billion and €12.25 billion.

Vestas said this week it expects all future projects to feature mounted Lidar wind measurement after installing its first at Fred Olsen Renewables.

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