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February 17, 2020

Vestas secures wind turbine supply contract from Stena Renewables

Danish wind turbine manufacturer Vestas has secured a wind turbine supply contract from its Swedish customer Stena Renewables.

Danish wind turbine manufacturer Vestas has secured a wind turbine supply contract from its Swedish customer Stena Renewables .

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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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According to the contract, Vestas will supply its EnVentus V162-5.6MW turbines that will be installed at the Riskebo wind energy project in the Hedemora Municipality, Sweden.

Vestas Northern and Central Europe Sweden, Finland and Estonia sales director Juan Furones said: “With this order, we continue to build on our valued collaboration with Stena Renewables AB, with whom we have a strong partnership in the Nordics.

“Together, we have developed the most suitable and versatile solution for the Riskebo wind power plant, leveraging the large operational envelope and exceptional energy capture of the V162-5.6MW turbine variant from our EnVentus platform.”

The 39MW Riskebo wind energy project will be the first in Sweden to be equipped with EnVentus V162-5.6MW turbines.

The contract includes supply, installation and commissioning of the wind turbines and a 30-year active output management 5000 (AOM 5000) service agreement with the Swedish company.

Stena Renewables CEO Peter Zachrisson said: “We are building this project in collaboration with a strong regional developer and wind turbine owner, Dala Vind AB.

“The new Vestas EnVentus platform helps us utilise the project’s total potential with high yearly production and long turbine lifetime, providing society with a tremendous amount of sustainable electricity over the coming years.”

Vestas is planning to deliver the turbine by the third quarter of next year, while the commissioning is planned for the fourth quarter of 2021.

Earlier this month, Vestas secured a 160MW turbine contract from Luxcara , a German independent asset management company.

According to the agreement, Vestas will supply, install and commission 38 V150-4.2MW wind turbines across three wind power projects, including Välikangas, Pihtipudas and Sievi in Finland.

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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.
by GlobalData
Enter your details here to receive your free Report.

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