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Vestas' Backlog Balloons with Strong Gust of Offshore Wind Projects Around Europe

Vestas' Backlog Balloons with Strong Gust of Offshore Wind Projects Around Europe

power

Industry Segment: Power | Word Count: 724 Words

SUGAR LAND--August 19, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Vestas Wind Systems A/S (Aarhus, Denmark) truly has the wind in its sails, as the company is increasing its full-year outlook for revenues and profits after it reported significantly higher revenue, earnings and profit in second-quarter 2016. The company has been benefiting from government support for renewable energy, including subsidies in its home country Denmark and the extension of the U.S. Production Tax Credit; in particular, the U.S. accounted for 27% of Vestas' quarterly order intake. The quarter's revenues stood at 2.6 billion euros ($2.95 billion), a 46% increase from the same period last year. Industrial Info is tracking $20.54 billion in projects involving Vestas.

Within this article: Details on Vestas' highest-value projects, each with an investment value of more than $1 billion.

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