Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict


Denmark-based turbine manufacturer Vestas is reportedly planning to suspend works on four Russian wind projects in response to the country’s invasion of Ukraine.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Danish newspaper Ekstra-Bladet reported that the Novoalekseevskaya, Grazhdanskaya, Ivanovskaya and Pokrovskaya wind assets, which are all in the development phase, are currently under review.

In a statement, Vestas said: “Many of our employees and their families have been displaced and fear for their safety and for their future.

“We worry about the wellbeing of our colleagues, customers and business partners in the besieged country.

“In light of the ongoing and indefensible war initiated by the Russian Government, Vestas will stop any new commercial activity in Russia until further notice.”

Vestas was selected to develop the four projects, whose combined capacity amounts to 253MW, by a consortium that includes the Russian Gazprombank and Finnish energy company Fortum.

The company is understood to have been developing the projects since September last year.

Reuters said that Vestas did not immediately reply to a request for comment.

Earlier this month, Vestas said that it would suspend all its new commercial activities in Russia.

reNEWS reported that the company made the decision after experiencing difficulties in manufacturing, construction and transportation activities due to the conflict.

Vestas has also condemned the Russian Government for its military offensive in Ukraine.

Several other power companies have announced stern measures in response to the Russian military invasion of Ukraine.

These include Fortum, which has decided to suspend all new investments in Russia until further notice.

The Finnish company currently operates seven thermal power plants in the country through its Russian arm, according to Reuters.

In a separate development, Ukraine has informed the International Atomic Energy Agency (IAEA) that shelling from the Russian military has damaged a nuclear research facility in Kharkiv.

The nuclear research facility is used for producing radioisotopes for medical and industrial applications.