|Bid||429.60 x 0|
|Ask||429.80 x 0|
|Day's Range||429.40 - 436.40|
|52 Week Range||357.40 - 632.50|
|PE Ratio (TTM)||82.86|
|Earnings Date||May 4, 2018|
|Forward Dividend & Yield||9.23 (2.10%)|
|1y Target Est||495.11|
Denmark is hoping planned U.S. tariffs won’t hit Vestas Wind Systems A/S, whose American operations rely on steel imports to build turbines.
General Electric (GE.N) plans to invest more than $400 million (290.61 million pounds) over the next three to five years to develop the world's biggest offshore wind turbine, which will have a capacity of 12 megawatts and stand 260 metres (853 feet) tall. "We want to lead in the technologies that are driving the global energy transition," CEO John Flannery said. GE Renewable Energy will develop and manufacture the new turbine largely in France and aims to supply its first nacelle, - or power generating unit - for demonstration in 2019 and ship the first turbines in 2021.
Four power giants, led by Siemens Gamesa Renewable Energy SA, dominate the world’s wind turbine market, making up 54 percent of sales in 2017.
Wind power installations in Europe surged in 2017, driven by a frantic investor push to complete projects eligible for feed-in-tariffs before new European state-aid regulations put an end to buoyant subsidies.
MADRID/FRANKFURT (Reuters) - The world's No. 2 maker of wind turbines, Siemens Gamesa (SGREN.MC), flagged 2 billion euros (1.78 billion pounds) in cost cuts by 2020, hoping to close a margin gap with bigger rival Vestas (VWS.CO). Wind turbine manufacturers are facing relentless pricing pressure globally, as governments slash subsidies for renewables to force them into competition with conventional energy sources, including coal and gas. Siemens Gamesa, the result of a merger between Siemens' (SIEGn.DE) wind power business and Spain's Gamesa completed last year, is betting on size and a more focused product portfolio to weather the crisis.
MADRID/FRANKFURT (Reuters) - Siemens Gamesa, the world's No.2 maker of wind turbines on Thursday it would reduce costs by about 2 billion euros (£1.78 billion) by 2020, hoping this will help it narrow a margin gap with larger rival Vestas. Presenting its new three-year business plan at a capital markets day, Siemens Gamesa said it would raise its margin on earnings before interest and tax (EBIT) to 8-10 percent by 2020, up from the 7-8 percent it expects for this year. The group's announcement comes a week after Denmark's Vestas unveiled its ambitious outlook, forecasting an EBIT margin of 9-11 percent in 2018, with a mid-term target of 10 percent.
Spending on new wind capacity in Europe hit a three-year low in 2017, according to industry group WindEurope, in a sign that the sector is slashing costs and becoming more efficient as governments phase out lavish subsidies. Investments into new onshore and offshore wind projects fell to 22.3 billion euros (£19.8 billion) across the European Union, down 19 percent from a record 27.5 billion in 2016 and also lower than the 26.2 billion in 2015, WindEurope said in its annual statistics. Europe is home to a large number of leading players in the global wind power sector, be it project developers or equipment manufacturers, including Vestas, Orsted, Siemens Gamesa, EnBW and Nordex.
Vestas is betting on geared wind turbine technology to meet the ambitious profit-margin target it promised when it reported quarterly results on Wednesday. The world's biggest turbine maker said it targeted a operating profit margin of 9-11 percent in 2018. One of the main reasons Vestas expects to hit that goal, two sources close to the Danish company told Reuters, is its exclusive focus on manufacturing turbines that use a gearbox to amplify the energy transmitted from the rotor to the generator, and its rejection of rival direct-drive technology.
Vestas is betting on geared wind turbine technology to meet the ambitious profit-margin target it promised when it reported quarterly results on Wednesday. One of the main reasons Vestas expects to hit that goal, two sources close to the Danish company told Reuters, is its exclusive focus on manufacturing turbines that use a gearbox to amplify the energy transmitted from the rotor to the generator, and its rejection of rival direct-drive technology. This strategy diverges from its major competitors who either manufacture both or focus solely on direct-drive turbines, where the rotor directly drives the generator.
Vestas Wind Systems A/S will offer solar power and storage, allowing the world’s biggest turbine maker to sell hybrid renewable plants that generate electricity around the clock.
Vestas (VWS.CO) forecast a modest decline in profit margins and steady sales on Wednesday, easing investor worries about the impact of growing competition and falling government subsidies on the world's biggest wind turbine maker. "It is a sigh of relief," said Sydbank analyst Jacob Pedersen, echoing other analysts who pointed to better-than feared guidance for both 2018 and the longer term. Vestas said it expected its 2018 operating profit margin to fall to 9-11 percent on sales of 10-11 billion euros ($12.4-$13.6 billion), compared with last year's margin of 12.4 percent and sales of 10.0 billion.
By Helen Reid and Danilo Masoni LONDON (Reuters) - European shares fell back on Tuesday as global markets took a risk-averse turn, with cyclical sectors including mining and financials suffering the sharpest ...
Volkswagen-owned (VOWG_p.DE) truckmaker Scania is to invest 10 million euros in a 4 billion euro (£3.5 billion) project to build Europe's biggest battery cell plant in northern Sweden. Sweden's Northvolt, whose CEO Peter Carlsson used to work for Tesla (TSLA.O), is racing against rivals such as South Korea's LG Chem to set up large-scale battery cell plants across Europe, where automakers and industrial firms have so far been largely reliant on Asian imports. European automakers such as BMW (BMWG.DE), Daimler (DAIGn.DE), Volkswagen and Volvo Car Group are all set to ramp up electric car production in the coming years.
Anders Runevad said the U.S. decision to impose tariffs on solar cells will have a limited effect on the wind energy firm.
France announced a 10-point scheme on Thursday to halve the time it takes to get onshore wind farms up and running and double the amount of electricity generated by turbines by 2023 as part of a plan to reduce its dependence on nuclear energy. The proposals aim to counter opposition from activists who have frustrated the country's attempts to hit renewable energy targets by obstructing wind power projects with appeals at every step of the approval process. Under the Ministry of Ecology's 10-point plan, opponents of wind farms will no longer be allowed to lodge appeals with Administrative Tribunals, a move the government says will reduce the approval process by up to three years.
Denmark generated close to half of its electricity consumption from wind energy in 2017, setting a new world record as it aims to entirely phase out fossil fuels in its power sector, the country's energy and climate minister said on Thursday. The level of electricity consumption supplied by wind power has set records in the Nordic country nine out of the last 10 years, reaching 43.4 percent last year and surpassing the previous 2015 record of 42 percent. Lilleholt said more offshore wind power would be built before 2030, but declined to say how many megawatts would be put out for tender.
Germany's Nordex (NDXG.DE), the world's sixth-largest wind turbine maker, said on Tuesday it had secured three contracts in the United States worth a combined about 820 megawatts (MW) in power capacity. The orders were placed by two international utilities in December, Nordex said, declining to disclose their names. One order is for 67 turbines for a project in Texas, where it previously supplied turbines to Germany's E.ON (EONGn.DE).
A power line linking a 310 megawatt (MW) wind power plant to Kenya's national grid, delayed by landowners' compensation demands and the closure of a major contractor, is expected to be ready in June, the energy minister said on Monday. Wind power provides about 25 MW of electricity in Kenya, which depends heavily on geothermal and hydro power, providing the bulk of the country's total output of 2,341 MW. The 266-mile (428-km), 400-kilovolt power line is critical for the Lake Turkana Wind Power project, to move its electricity from Loiyangalani in the north to Suswa in the centre of Kenya.
European stocks faltered at the start of the trading year on Tuesday as autos stocks fell and strength in the euro weighed, while trading was cautious ahead of the launch of a major reform of European Union financial markets. Autos stocks (.SXAP) were 0.1 percent lower, dented by weaker car registrations data. Basic resources stocks also bounced back from early declines with the sector index (.SXPP) rising 1.2 percent.
The wind farm in Oregon's Columbia River Gorge that will serve as Apple Inc.'s single biggest source of renewable energy will use turbines made by Vestas Wind Systems. Vestas (VWS.CO), the Danish company which makes wind turbines at four Colorado factories, said today that it is selling 51 of its largest, most advanced turbines to developer Avangrid Renewables for use at the Montague project. Apple says Montague will provide it 560,000 megawatt-hours of electricity annually under a long-term power purchase agreement with Avangrid Renewables.
Denmark's Vestas (VWS.CO), the world's top wind turbine maker, said on Thursday it was pleased the final U.S. tax bill retained production tax credits for wind energy projects, after concerns over the bill had sliced almost a quarter off its share price. Earlier versions of the bill would have removed the credits, a move that the renewable energy industry said would threaten $50 billion (£37.4 billion) in planned investment in wind energy projects in the United States. The $1.5 trillion tax bill, which won final approval from Congress on Wednesday, retains a previous plan to gradually phase out the production tax credits (PTCs) by the end of 2019.
Denmark's Vestas, the world's top wind turbine maker, said on Thursday it was pleased the final U.S. tax bill retained production tax credits for wind energy projects, after concerns over the bill had sliced almost a quarter off its share price. Earlier versions of the bill would have removed the credits, a move that the renewable energy industry said would threaten $50 billion in planned investment in wind energy projects in the United States. The $1.5 trillion tax bill, which won final approval from Congress on Wednesday, retains a previous plan to gradually phase out the production tax credits (PTCs) by the end of 2019.