Vestas Upbeat on North American Wind Energy Market for 2024

February 13, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--The wind-energy business has seen rough weather over the past year, particularly in the U.S. offshore market, but Vestas Wind Systems A/S (Copenhagen, Denmark) is seeing some positive signs after its quarterly order intake hit record highs at the end of 2023. In a year-end report, Vestas executives said the global wind market appears to be stabilizing, and they expect results will continue to improve this year; in fact, the company pointed to strong onshore activity in the U.S. as a top factor.

Industrial Info is tracking nearly $45 billion worth of active and planned projects across the U.S. and Canada that are using, or considering, Vestas as a service provider; more than $23 billion worth have a medium-to-high (70% or more) probability of beginning construction as scheduled. Companies involved include NextEra Energy Incorporated (NYSE:NEE), Tarpon Investimentos S.A., Steel Dynamics Incorporated (NASDAQ:STLD), Innergex Incorporated, Cordelio Power, Microsoft Corporation (NASDAQ:MSFT), ABO Wind AG and EverWind Fuels LLC.