Vestas adds to record order tally with Norway and Sri Lanka

OEM has announced 12.6GW of orders for the year, comfortably ahead of 2017’s best-ever total

Vestas broke through the 12.5GW order mark for 2018 and consolidated a record year, as it confirmed 328MW of deals from Norway and a 104MW project that takes Sri Lanka into the wind power big-league.

The Norwegian orders, for which no customer details were given, is for Vestas’s 4MW platform.

The Sri Lankan deal will see Vestas build and equip the Mannar Wind Power Project with its V126-3.45 MW turbines, in what the OEM said is the first wind farm planned in the nation beyond the 10-15MW range.

The new business left the Danish onshore wind group with more than 12.6GW of orders announced for the year to date.

That is comfortably ahead of the record 11.18GW Vestas posted last year, with hours of 2018 still left to go and before smaller, unannounced orders for the final fourth quarter are factored into the equation.

The tally comes thanks to a spree of late-year deals that also included a 184MW EPC deal in Australia and 105MW of orders in Sweden.

The bumper order intake reflects strong, ongoing demand for turbines and associated services flagged up by Vestas when it posted its third-quarter financial results.

It said then that it expects to see higher activity in 2019 than this year.

However, translating increased orders into higher profitability has become tougher for Vestas and all other wind OEMs amid downward pressure on turbine prices.

The Danish manufacturer said following November’s Q3s that the price squeeze was stabilising.

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