Vestas Wind Systems A/S ADROTCPK - Current
Tue, Nov. 8, 9:25 AM
Thu, Aug. 18, 9:22 AM
Thu, Jun. 30, 9:18 AM
- Vestas Wind Systems (OTCPK:VWDRY) says it received an order for 22 turbines to be installed at the Lyrestad wind park in Mariestad, Sweden, with power produced from the development sold to Google as part of the tech company's drive to power its entire operations on clean energy.
- Combined with a similar agreement with a new 50-turbine project in Stavanger, Norway, Google says the two new wind farms will provide 236 MW of energy and that it has signed long-term contracts to purchase all energy produced from both projects.
- Google says it now has seven wind power purchase agreements in Europe, totaling more than 500 MW, and 18 such deals globally.
Wed, Jun. 29, 9:51 AM
- Vestas Wind Systems (OTCPK:VWDRY) announces three major deals: It received a 53 MW order for its V110-2.0 MW turbines from Xcel Energy (NYSE:XEL), an order for eight units of the V126-3.3 MW model for a 26 MW wind farm to be located in eastern Turkey, and a 20-year service contract for the Rethwisch wind power plant in Schleswig-Holstein, Germany
- The XEL contract follows Vestas' conditional agreement earlier this year to supply the U.S. company's proposed Rush Creek wind farm in Colorado with as many as as 300 of its V110-2.0 turbines.
Mon, Jun. 20, 11:48 AM
- Siemens’ (OTCPK:SIEGY +2.7%) $11B wind power turbine merger with Gamesa (OTCPK:GCTAY -1.7%) creates a market giant to rival Vestas Wind Systems (OTCPK:VWDRY) and GE but faces a challenge in harnessing planned savings, according to analysts at Barclays and Morgan Stanley.
- Barclays expects only a fraction of the planned 70M revenue synergies will be achieved, and does not believe the onshore and offshore businesses offer "any sort of synergy potential" in sales, as the two businesses deal with different customers, technology and drivers.
- Siemens and Gamesa have identified €230M in cost cuts within four years, and while the product synergies “are clear,” achieving that target remains a risk, Morgan Stanley analyst Ben Uglow says.
- Nevertheless, Stanley rates Siemens a Buy as "in terms of product overlap, Siemens brings a number one position in offshore turbines [and a] strong offering in developed markets.”
Fri, May 27, 4:54 PM
- Vestas Wind Systems (OTCPK:VWDRY) says it is revising its forecasts after a U.S. decision on tax credits for renewable energy companies strengthened its position.
- The U.S. decision to extend the current tax credit framework by five years is "incredibly positive," while a subsequent clarification by the IRS means the outlook is "more favorable than what was probably projected,” says CEO Anders Runevad.
- “Until 2020 we’re looking at a very good and stable market which we haven’t had at all previously," the CEO says.
Fri, Apr. 29, 9:02 AM
- Vestas Wind Systems A/S ADR (OTCPK:VWDRY): Q1 net income of €35M
- Revenue of €1.46B (-3.9% Y/Y)
Tue, Feb. 9, 11:49 AM
- Siemens (OTCPK:SIEGY +0.2%) is close to a deal to combine its wind business with Gamesa (OTCPK:GCTAF +7.6%), which would create world's largest wind turbine maker, Bloomberg reports.
- SIemens is the global leader in wind turbines designed for use offshore, while Gamesa specializes in onshore wind; together, the combined companies would have ~15% of the global wind market, exceeding Vestas Wind's (OTCPK:VWDRY) 10% share and GE’s 11%.
- Siemens also is holding talks about buying Iberdrola’s (OTCPK:IBDRY -0.6%) 20% in Gamesa, according to the report.
Tue, Feb. 9, 8:01 AM
- Vestas Wind Systems (OTCPK:VWDRY) reports better than expected Q4 net profit and raises its dividend on 2015 earnings by 75%.
- Vestas says its Q4 net profit grew 54% Y/Y to €298M ($333.6M), beating analyst expectations of €266M, while revenue rose 23% to €3.04B, vs. expectations of €2.95B; FY 2015 net profit gained 75% to a record €685M from €392M in 2014, on a record €8.4B of sales.
- For 2016, Vestas predicts sales to reach at least €9B with an operating margin of at least 11%.
- Vestas says it will pay a dividend of 6.82 Danish kroner/share on 2015 earnings, or 30% of net profit, in line with its policy of paying an annual dividend of 25%-30% of net profit.
Dec. 3, 2015, 12:58 PM
- Duke Energy announces plans to build, own and operate a 2K MW wind power project in northern Oklahoma, the company’s first renewables project in the state.
- A total of 61 Vestas (OTCPK:VWDRY) V126-3.3MW turbines will be installed at the site.
- DUK expects the project will produce enough electricity to power ~60K homes, and to be completes by the end of 2016.
Oct. 19, 2015, 10:48 AM
- Vestas Wind Systems (OTCPK:VWDRY -0.2%) says the U.K. government's decision to reject the Navitus Bay offshore wind farm project will not affect the company's order backlog, as it was not a firm and unconditional order but a potential order.
- Vestas says it will not challenge the decision by the U.K. Energy and Climate Secretary to refuse consent for the project, which comprised up to 194 turbines which would have a maximum installed generating capacity of 970 MW.
Aug. 12, 2015, 9:15 AM
- Vestas Wind Systems (OTCPK:VWDRY) says it has received a firm and unconditional order in the U.S. for 50 V110-2.0 MW turbines, with a total capacity of 100 MW, from an undisclosed customer.
- The contract covers supply and installation of the turbines, as well as a five-year service agreement' delivery is expected in Q3 2016.
- The order takes Vestas' YTD announced order intake to 4,435 MW.
Jun. 4, 2015, 9:17 AM
- Vestas Wind Systems (OTCPK:VWDRY) says Norwegian power company Statkraft has decided not to proceed with a plan to use Vestas' turbines in a 1,000 MW wind power project, citing lower electricity prices in the region that have made the project unprofitable.
- Statkraft scrapped the project even after Norway's government agreed to inject 5B crowns ($648M) and keep dividends with the company to support new investments.
- The project, worth 11B crowns ($1.4B), could have more than doubled wind power capacity in the country.
May 6, 2015, 12:59 PM
- Vestas Wind Systems (OTCPK:VWDRY +4.2%) is higher after reporting better than expected Q1 results and raising its FY 2015 profit target amid a record wind turbine and service order backlog of €15B.
- Vestas reported Q1 net income of €56M ($63M), almost double the €29.7M average analysts had expected, and a 13% increase in revenue from its services business even though the year-ago period was fattened with rare contracts maintaining machines offshore.
- Q1 EBIT margin before special items was a company record 5.2%, up 2.1 percentage points compared to Q1 2014, and return on invested capital hit a record 44%.
- Vestas says it now expects at least €7.5B in revenues this year, up from a previous forecast of at least €6.5B, with an operating margin of a least 8.5% from an earlier expectation of 7%; while analysts had expected higher forecasts, they were still surprised by the extent of the upgrades.
Apr. 29, 2015, 9:57 AM
- Vestas Wind Systems (OTCPK:VWDRY) says it has been awarded an unconditional order for a 78 MW project in the U.S. from a Sempra Energy (NYSE:SRE) subsidiary.
- The contract is for 38 V110 2MW low wind turbines to go to the Black Oak Getty wind project in Minnesota.
- Vestas says the project will be commissioned in Q2 2016, and the deal includes a 20-year service agreement.
Mar. 9, 2015, 3:58 PM
- Siemens (OTCPK:SIEGY) gained over Vestas (OTCPK:VWDRY) as the leader in the global wind turbine market as measured by market share of newly installed machines connected to the grid in 2014, according to a new industry report.
- But the gap is small, as wind turbine units of Siemens, General Electric (NYSE:GE) and Vestas ranged between 10.8% and 10.1% each of global market share, showing the intense competition in the industry.
- GE climbed to second place from fifth the previous year, due to turbines that already had been installed in 2013 but were only turned on in 2014.
- Siemens accounted for 76% of new capacity installed offshore last year in the world and 88% offshore Europe.