Vestas orders up 40% in first half of 2019

Following its routine end-of-quarter order intake flurry, Vestas reached over 4.6GW of new turbine orders during the second quarter of 2019. On top of the 3GW it won in Q1, Vestas is flying ahead of its 2018 total.

Vestas is on course to surpass its 2018 record order total of 14.2GW
Vestas is on course to surpass its 2018 record order total of 14.2GW

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In total, Vestas has won a little over 7.61GW of new turbine orders so far in 2019. This total is 40% more than the same period of 2018, when Vestas won 5.44GW on its way to securing 14.2GW across all of 2018. 

This means Vestas is already over half way to last year's total, in a market where many deals are agreed in the final six months of the year.

In 2018, 62% of Vestas' orders were awarded in the second half of the year.  

As with 2018, the US remained the dominant market for Vestas. It secured 11 deals across the first six months of the year totalling 3,072MW ranging from 143MW to a 459MW deal with PacifiCorp.

Vestas also recorded 789MW of order intake from projects in Q1 but was unable to provide information for them, so we are unable to attribute those to markets. 

An interesting regional shift took place between quarters one and two in 2019.

The first quarter saw 620MW in orders from the Asia-Pacific region — notably 101MW in China and 214MW in Australia but with contributions also from India, New Zealand, Vietnam and Taiwan. There were only three orders from European markets in Q1 totalling 163MW.

This switched in Q2, however. Vestas won seven orders in five European markets across Q2 totalling 684MW. In comparison, there was only three orders from two Asia-Pacific markets, for a total of 282MW.

Growth in the European market demand was enhanced by Vestas also receiving the first order for its new Enventus turbine platform.

At the end of Q2, repeat customer TuuliWatti placed an order for the manufacturer's V162-5.6MW turbine for the 151MW Simo Sarvisuo project. The utility won capacity in Finland's first power auction

The recovering Brazilian market was also remained a vital source of order intake for the Danish manufacturer, becoming the second largest market in both quarters. Vestas also won its maiden deal in El Salvador. 

The order totals are subject to change slightly when Vestas announces its second quarter results on 15 August. 

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