Australian Wind Market: Vestas Receives Major Order From Australia - Share Price Climbs

Seoul, South Korea - The order intake at Vestas is currently running smoothly. The Danish wind turbine manufacturer is constantly reporting new orders.

Now Vestas has announced an order from Australia for the delivery and installation of 46 V162-6.2 MW wind turbines from the EnVentus platform for CS Energy's Lotus Creek wind farm in central Queensland with a total capacity of 285 MW. The order also includes a long-term service contract.

The Lotus Creek wind farm is also the first project developed by Vestas Development in Australia to reach financial close and construction readiness.

“Lotus Creek Wind Farm showcases Vestas Development Australia’s ability to bring greenfield projects to commercial and planning maturity, hence accelerating the uptake of essential clean energy projects across Australia. A key to this project’s success has been nurturing valuable relationships with the traditional owners, landholders, the local community and our dedicated team of consultants”, said Evan Carless, Vice President, Vestas Development Australia about the project.

During the main construction phase, the Lotus Creek wind farm will employ up to 400 people on site and create 10 to 15 long-term jobs for regional service providers once it is operational. According to Vestas, the electricity produced annually will be enough to supply around 150,000 average Queensland households.

The Vestas share has so far gained 3.9% to EUR 21.57 in today's trading (15:45, 15.08.2024, Stuttgart Stock Exchange). Compared to the price at the turn of the year, the Vestas share is currently down 25 percent.

Source: IWR Online, 15 Aug 2024