Vestas Receives Major Conditional Order For Mega Offshore Wind Farm in Scotland - Further Orders Secured in Spain, Japan, Costa Rica And Italy

Aarhus, Denmark - Wind turbine manufacturer Vestas announces a conditional order for the huge Inch Cape offshore wind farm in Scotland at the end of the third quarter, in addition to various orders for wind energy projects in different regions around the world. The share cannot benefit.

The agreement on the conditional offshore order between Vestas and Inch Cape Offshore Limited, a joint venture between ESB and Red Rock Renewables, comprises the delivery, installation and commissioning of 72 V236-15.0 MW wind turbines. The order, which has a total capacity of 1,100 MW (1.1 GW), also includes a long-term, comprehensive service contract and a contract for support of turbine operation.

The Inch Cape project site is located in the Scottish North Sea, 15 kilometers off the coast of Angus. According to current planning, the installation of the wind turbines is scheduled to begin in 2026 and the wind farm should be fully operational in 2027.

According to Vestas, certain standard conditions precedent still need to be fulfilled for the project to be considered a firm and unconditional order on Vestas' books. Once these are resolved, Vestas will announce the firm and unconditional order in accordance.

“Inch Cape will have a significant impact on the UK’s sustainable energy future, and we are proud to stand at the forefront of this transition. Our thanks go to our partners at ESB and Red Rock Renewables for their trust and excellent collaboration,” said Nils de Baar, President of Vestas Northern & Central Europe, welcoming the project award.

Further orders for 154 NW from Spain, Japan, Costa Rica and Italy

The other orders announced by Vestas relate to a 41 MW order for the Dama de Baza wind farm in Spain. The customer is the renewable energy company Altano Energy from Madrid. The order is for the delivery of 9 V 163-4.5 MW turbines. The turbines are to be delivered in the third quarter of 2025 and commissioned in the fourth quarter.

Vestas has also received an order for 8 V117-4.2 MW turbines each for the Japanese 34 MW Shiroishi Kosugo wind farm and an unnamed project in Costa Rica, also with a capacity of 34 MW. Italy has also placed an order with the customer Libeccio for the Vento de Vino 2 wind farm for the delivery of 7 V162-6.2 MW turbines. The turbines will be supplied in the 6.4 MW version, resulting in a total output of 45 MW for the wind farm.

Share cannot benefit

The Vestas share fell significantly in yesterday's trading by 5.2 percent to 18.82. (Closing price, Stuttgart Stock Exchange). Compared to the price at the turn of the year, the share is down 34 percent.

Source: IWR Online, 02 Oct 2024