Vestas: a bold step towards Latin American expansion

Just days ago, Vestas reported a historical record year. With a revenue of more than €10bn and a net profit of €965m in 2016, 41% more than in the previous year, it has an unparalleled global presence in the wind industry. Despite fierce competition and the challenges inherent to the energy industry, Vestas has maintained its leadership with 82 GW of installed capacity in 76 countries worldwide.

Latin America is one of the regions where Vestas is making a strong bet. Having consolidated its leadership in mature European markets such as Italy and France and having managed to position itself as the leading manufacturer in terms of installed capacity and number of new orders in the US last year, there is no let-up for Vestas. The company continues to lead an industry at global level that, as its chairman, Bert Nordberg, stated in the company’s annual report, “together with other sources of clean generation, will lead the future of the energy industry”.

 

Within this context of growth, Latin America has become a key region. During recent years, many countries on the American continent have jumped on the renewables band waggon, promoting green policies and supporting more efficient mechanisms to allocate electricity capacity, such as power auctions. This phenomenon has resulted in the majority of the orders secured in 2016 being concentrated in the second half of the year. Countries such as Chile, Mexico, Brazil and Argentina all held renewable energy auctions last year and some of the projects already awarded still have to materialise. Read more…

Article published in: FuturENERGY January-February 2017