Vestas has seen its second-quarter earnings hit by cost inflation and global supply chain issues
Vestas expects US order boost from climate act
Danish wind turbine maker welcomes Inflation Reduction Act but reports second-quarter loss as inflation and supply chain issues continue to weigh on performance
Danish wind turbine manufacturer Vestas expects its US order intake to accelerate as the country’s renewables sector benefits from the new Inflation Reduction Act. Vestas is already engaged with customers over the impact of the act, although the first meaningful increase in firm orders may not come until 2023 as developers need time to fully understand how it will affect their projects, CEO Henrik Andersen told analysts on a second-quarter earnings call. “We welcome the clarity on what is going to happen in the US in the next ten years and we very much welcome that it includes onshore, offshore, solar and also reaches out to power-to-X or hydrogen, which has a prominent role in the act,” And
Also in this section
28 March 2025
The massive expansion of the Northern Lights project in Norway is the clearest sign yet that the European oil and gas companies mean business when it comes to CCS
27 March 2025
Awards celebrate global innovation, leadership and achievement across the energy sector’s people, projects, technologies and companies.
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
14 March 2025
Ignoring questions of sustainability will not make the problems they focus on go away
