Vestas Gets Much-Needed Investment Jolt from U.S. Wind Sector

Researched by Industrial Info Resources (Sugar Land, Texas)--Vestas Wind Systems A/S (Copenhagen, Denmark) started the year with some good news: The original equipment manufacturer (OEM) announced more than 1.6 gigawatts (GW) worth of wind turbine orders at the end of the year, the bulk of which is attributed to U.S.-based projects. These join a host of projects in 19 U.S. states and six Canadian provinces. Industrial Info is tracking more than $40 billion worth of active and planned projects across the U.S. and Canada involving, or potentially involving, equipment from Vestas.

Click on the image at right for a graph detailing the top 10 parent companies for projects in the U.S. or Canada featuring Vestas equipment or services, by total investment value.

The spate of U.S.-based orders--mostly from undisclosed customers--follows a rough year for Vestas, which struggled to recover from losses amid heavy inflation, operational issues, and increased costs from repairs and upgrades. For more information, see August 13, 2024, article - Vestas Points to Strong Backlog as Rising Costs Hit Outlook.

Among the announced projects with disclosed customers is Brookfield Asset Management Incorporated (NYSE:BAM) (Toronto, Canada), which signed a 10-year service agreement with Vestas to replace 518 non-operational wind turbines installed in the 1980s at its Patterson Pass Windfarm in Livermore, California. Called Mulqueeney, the project is located in the Altamont Pass Wind Resource Area, east of San Francisco.

Vestas says it plans to deliver the turbines in the fourth quarter of 2025, with the commissioning scheduled for the first quarter of 2026. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more from a detailed project report and plant profile.

Other disclosed customers include Invenergy LLC (Chicago, Illinois), which picked Vestas to provide 83 turbines for its 340-megawatt (MW) Alle-Catt Windfarm in Farmersville Station, New York, and Apex Clean Energy Incorporated (Charlottesville, Virginia), which picked Vestas to provide 80 turbines for its 200-MW Lotus Windfarm in Virden, Illinois. Both projects have 10-year service agreements with delivery planned for the fourth quarter of 2025, with commissioning scheduled for the first quarter of 2026.

Subscribers can read detailed reports on the Alle-Catt and Lotus projects.

"We're pleased to close out 2024 by continuing to deliver significant projects across the U.S. and meet the growing demand for homegrown electricity while strengthening America's energy independence and security," said Laura Beane, the president of Vestas North America, in a press release.

These projects will join more than $11 billion worth of projects under construction and involving Vestas equipment or services. Projects estimated to finish construction in the first half of 2025 include Apex's $247.5 million Downeast Wind development near Cherryfield, Maine, which is designed to generate 126 MW from 30 Vestas turbines, and BP plc's (NYSE:BP) (London, England) $260 million repowering of the Fowler Ridge Windfarm in Fowler, Indiana, which will replace 182 turbines at the 300-MW facility with 150 newer, more efficient models. Subscribers can read detailed reports on the Downeast and Fowler Ridge projects.

Project slated to wrap up toward the end of 2025 include ENGIE S.A.'s (Paris, France) $380 million Big Sampson Wind Project in Ozona, Texas, which is designed to generate 270 MW from 60 Vestas turbines. Subscribers can learn more from a detailed project report.

Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Subscribers can click here for a full list of detailed reports for active and planned projects across the U.S. and Canada involving, or potentially involving, equipment from Vestas.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).