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May 5, 2020

Vestas secures wind turbine supply contract in China

Danish wind turbine manufacturer Vestas has secured a wind turbine supply contract in China.

Danish wind turbine manufacturer Vestas has secured a wind turbine supply contract in China.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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As per the 50MW order, Vestas will supply its V120-2.2MW wind turbines delivered in a 2.4MW power optimised mode.

The Danish turbine manufacturer has also agreed to maintain the wind turbines through a five-year Active Output Management 4000 (AOM 4000) service agreement.

Vestas intends to deliver the turbines by the third quarter of this year and is also planning to commission the turbines in the same quarter.

The firm did not disclose the name of the project or customer from whom it secured the contract.

Earlier this month, Vestas secured a contract in Vietnam for two projects with a combined capacity of 64MW.

Under this contract, Vestas has to supply, transport, install and commission 16 of its V150-4.2MW wind turbines, which will be delivered in a 4.0MW operating mode for the wind projects located in the mountainous terrain in Quang Tri province.

The two projects are owned by Huong Tan Wind Power Joint Stock Company (JSC) and Tan Linh Wind Power JSC.

Vestas Asia Pacific president Clive Turton had then said: “Vestas is once again leading the market in Vietnam. We are very proud to partner with local developers Huong Tan Wind Power JSC and Tan Linh Wind Power JSC and look forward to working closely with them to support their growing ambition to develop more wind projects across Vietnam.

“At Vestas, partnership is at the cornerstone of everything we do. With our inhouse siting, logistics, and construction experts, we are able to work closely with all our customers to help them achieve their commercial objectives on all manner of sites around the Asia Pacific region.”

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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