Vestas

The sale includes Vestas' three converters and control panels factories in Denmark, India, and China, and associated staff functions.

Vestas’ converter factory in China employs approximately 220 people and is part of Vestas’ manufacturing compound in Tianjin. Vestas’ converter and control panel factory in Hammel, Denmark employs approximately 280 people and Vestas’ converter factory in Oragadam, India employs approximately 50 people. As part of the agreement, KK will exclusively supply converters and control panels to Vestas from the three factories, while the agreement enables potential for local expansion and job growth by extending the use of converter technologies in areas adjacent to Vestas’ core business.

Vestas executive vice-president and chief operations officer Tommy Rahbek Nielsen said: “Across our global supply chain footprint, we are increasingly ...

Under the agreement, KK Wind Solutions will supply converters and control panels to Vestas from the three manufacturing facilities. A total of around 600 employees will transition to KK Wind Solutions as part of the deal. Danish wind turbine manufacturer Vestas has signed an agreement to sell its converters and controls business to KK Wind Solutions for an undisclosed sum.

In total, around 600 Vestas employees are in scope for being part of KK. As part of the agreement, KK will exclusively supply converters and control panels to ...

"As a result, we will be well-positioned to develop and deliver world-class sustainable energy solutions to top tier wind OEMs and expand further into adjacent industries, such as Power-to-X." KK Wind Solutions chief executive Mauricio Quintana added: "As an established partner to Vestas, we aim to take a leading role in maturing the industry's supply chain and accelerate the green energy transition. "I’m therefore very excited about the agreement with our partner KK Wind Solutions, which can help grow and mature the wind energy supply chain."

Wind turbine maker Vestas expects to deliver more positive results next year, its chief executive said on Wednesday, as high costs from raw materials and ...

In May, Vestas slashed its 2022 margin forecast due to the war in Ukraine and writedowns in its offshore business. Register now for FREE unlimited access to Reuters.com Andersen also said a new energy bill passed in the U.S. Senate on Monday was "very supportive of renewable energy in the United States over the next ten years." If passed in the House of Representatives, it would strengthen Vestas' order intake next year and in 2024, he added. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

Vestas has reported an interim loss of €182m before special items in the second quarter of 2022, compared to an operating profit of €94m for the same period ...

The value of the combined backlog of wind turbine orders and service agreements stood at €50.2bn – an increase of €2.1bn compared to the year-earlier period. In addition to the wind turbine order backlog, at the end of the quarter, Vestas had service agreements with expected contractual future revenue of €31.3bn. Vestas meanwhile generated revenue of €3,305m in the quarter – a decrease of 7% compared to the same period in 2021.

August 10 (Renewables Now) - Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) made a net loss of EUR 119 million (USD 122m) in the second quarte.

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Geo-political uncertainty also dragged results down, but manufacturer succeeds in pushing wind turbine prices up.

The Danish turbine manufacturer's operating profit for Q2 (Ebitda) came in at €42 million in its preliminary results and it reported an overall net loss of €119 ...

By 2025 it aims to be “a leading player” in offshore. Group president and CEO Henrik Andersen said the company had retained its leadership position in onshore turbines. However, the outlook continues to be testing for the company. Under current market conditions it expects to achieve a longstanding aim of 10% Ebit margin before special items by 2025. Changes in the company’s manufacturing footprint in China and India have cost €215 million. It took in orders for 1,199MW of onshore turbines in the EMEA area, 896MW in the Americas and 28MW in the Asia Pacific region in the quarter.