Vestas taking a big risk by delaying offshore prototype

Vestas chief executive Ditlev Engel has good reasons for delaying the prototype of the company’s V164-7MW turbine.

The offshore market is developing more slowly than some expected and there are uncertainties over grid connections, government support regimes and local-content requirements.

Vestas’ current priority is to reduce production costs for products such as its V112 turbine and its Gridstreamer technology and it plans to shift engineering resources from the V164 to achieve this.

It has also started talks with potential partners to share the risks of its offshore business. This could result in both a big injection of capital and a big extension Log in to read complete article.

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