Vestas

Targets ✅ Declarations ✅ Climate goals ✅ Wind farms ❌ Turning our ambitions into actual wind farms means rethinking offshore wind auctions. Current mechanisms add too much financial risk upfront, instead of focusing on promoting project realisation and value creation. 2024, particularly, is a pivotal year - with an unprecedented volume of offshore wind up for auction. If ever there was a time for action, it’s now. Later is too late. www.vestas.com/action

The V236-15.0 MW™ had its first order in the U.S. recently for the Empire Wind 1 project in New York, U.S. – in total, 54 of our industry-leading, commercial-ready offshore turbines will be delivered to New York's offshore project. The V236-15-0 MW™, Vestas' flagship offshore wind turbine is built on proven, world-class technology. Since its launch, the turbine has secured more than 13 GW of firm orders and preferred supplier agreements globally, proving its competitiveness across offshore markets. We’re proud to pioneer solutions that contribute to building out new markets and accelerating the clean energy transition. Learn more: https://brnw.ch/21wMCqP

A stable secure and resilient energy system, powered by renewables. That’s what we need to build, despite a complex external market.  Delivering on this shared objective needs strong collaboration. That was the key focus of our annual Vestas Leadership Forum (VLF), attended by our senior leaders.  “Despite market uncertainty, we must continue accelerating the energy transition. Collaboration is critical, both within Vestas and across the global energy landscape. If we succeed here, we can ensure that the wind industry delivers on its full potential to advance decarbonisation, create jobs and increase energy security”, said CEO Henrik Andersen. This year's VLF featured insights from speakers like Markus Krebber (CEO, RWE), Robert Maersk Uggla (CEO, A.P. Moller Holding), Martin Lundstedt (CEO, Volvo Group), Christina Grumstrup Soerensen, Torsten Lodberg Smed (Senior Partners, Copenhagen Infrastructure Partners), Kevan Hall (author of ‘Making the Matrix Work’) and Anders Runevad (Chair of Vestas’ Board) Thank you to our guests for joining and sharing your perspectives.

Ramping up for serial production: our flagship offshore wind turbine, the V236-15.0 MW.   Here’s a glimpse inside our nacelles factory in Poland, where we're preparing to deliver our first commercial offshore wind projects: He Dreith and Baltic Power.   Since its launch, the V236-15.0 MW has been on an impressive journey: ◾ 2022: Prototype manufactured and installed ◾ 2023: Extensive testing and verification completed, leading to Type Certification   Now ready for commercial use, the turbine has secured around 13 GW in firm orders and preferred supplier agreements globally. Watch this video to explore how we're working to fulfil these commitments.

Powering New York! We've secured our first offshore order in the US with Equinor. Key order highlights include: ◾ 810 MW ◾ 54 of our flagship V236-15.0 MW offshore wind turbines ◾ A multi-year service agreement "Offshore wind is set to play a pivotal role in expanding America’s energy landscape. With today’s announcement, we are significantly closer to building out the long-term future of a robust U.S. offshore market and putting turbines in the water", says Josh Irwin, Senior Vice President Offshore Sales, Vestas North America. This is a huge milestone for New York and the U.S. offshore industry. We’re excited to deliver a proven, reliable product to help New York achieve its ambitious offshore wind energy goals and provide resilient wind energy to its communities. Read more: https://lnkd.in/dHsV5jdX

🇦🇺 We've successfully developed the Lotus Creek Wind Farm in Central Queensland - our first development project in Australia to reach financial close and construction readiness. And we've secured a 285 MW order with CS Energy to deliver wind turbines, including a long-term service contract. The project underlines our efforts to expand renewable energy development. Vestas Development has worked closely with numerous landowners, Traditional Owner groups and the local community while securing all critical planning and environmental approvals, grid connection, and delivering the overall wind farm design. By developing new renewable energy projects, Vestas continues to advance the energy transition while bringing value and benefits to local communities. The project is now owned by CS Energy, who have placed an order for: ▪️The supply and installation of 46 V162-6.2 MW wind turbines (EnVentus platform) ▪️A long-term Active Output Management 5000 (AOM 5000) service agreement. This ensures optimal energy production to the Australian grid and advances the energy transition. Read more: https://lnkd.in/dc-H-_QG

Out now: our full financial report for the second quarter of 2024. See key highlights in the image below. Our underlying earnings have improved significantly within our Power Solutions business area in comparison to last year. Despite our Power Solutions being profitable in Q2, our EBIT margin for the quarter was negative, due to an adjustment to planned costs in Service. Our order intake had an average selling price of EUR 1.21m/MW and grew more than 50 percent year-on-year, which together with an adjusted free cash flow of more than EUR 0.5bn highlights our positive trajectory. Based on results from this quarter, we have narrowed our 2024 guidance on revenue and EBIT margin, as announced earlier this week.  Our CEO Henrik Andersen says: “The second quarter of 2024 has seen Vestas continue to improve our underlying business performance in line with our expectations. Following the narrowing of our financial guidance due to an adjustment of planned costs in Service, we will move forward by continuing to build on the positive momentum of our underlying performance and execute on our strategy. A huge thanks to our customers, shareholders and employees around the world for their support as we work to maintain an overall positive trajectory, and drive the energy transition forward.”  Read more:  https://lnkd.in/dsNU8GM9   To join our investor audiocast: https://lnkd.in/d9btmm-U  

First kWh produced by the first customer-owned V162-7.2 MW ⚡ We are thrilled to announce that the first customer-owned EnVentus V162-7.2 MW wind turbine is now successfully in operation! The EnVentus V162-7.2 MW is our first model with a side compartment, offering flexibility in transportation and aiming to take advantage of industrial standards with its modular nacelle design. This nacelle design is shared with the V172-7.2 MW, helping us mature the roll-out of this model as well. We thank Bürgerwindpark Janneby eG in Schleswig-Holstein, Germany, for their trust and collaboration that enable us to further perform rigorous test & validation of the new turbine to ensure optimised performance.

Vestas is narrowing our financial outlook for 2024 ahead of our full quarterly report. The update is due to adjustments to planned costs in our Service business. Read more in our company announcement. Full details of our quarterly results will be announced in our official quarterly report this Wednesday: https://lnkd.in/dfSvjEVq

A successful energy transition hinges on industries working together. That’s why, we are proud to have christened A.P. Moller - Maersk's new methanol-enabled vessel – one of the world’s first!   “Deploying wind energy is essential to achieving net zero. But without driving decarbonisation in the hard-to-abate sectors, we cannot have a successful energy transition. Frontrunners who dare to test new technology will be key for our planet’s future, and we’re proud to support Maersk’s journey,” commented Henrik Andersen, our CEO.   Christened ‘Antonia Maersk’, the vessel is currently docked at the Aarhus Port and open for visits this weekend.