E.ON AG publicized a massive 7 billion Euro investment program in renewable energy projects on Thursday. At the same time some additional details considering orders that Vestas (OMX: VWS) announced in October came to light. The 219 MW Humber Gateway wind farm in the UK with the new Vestas 3 MW V112 turbine will cost E.ON 850 million Euro and Kårehamn 48 MW wind farm in Sweden with the same turbines will cost around 120 million Euro in total.
E.ON's Offshore Wind Energy Factbook gives a glimpse of the scope of the development ahead for offshore wind energy market in Europe in the coming years. The challenge for Vestas is to bridge the gap from now until the company plans to bring its offshore built giant 7 MW turbine into market in 2015. In the meantime, there are larger windmills available than Vestas’ V112. For example the third wind farm specified by E.ON in the investment program, Amrunbank West in the German North Sea, will have 80 Siemens 3.6 MW turbines.
Despite some very optimistic predictions, large companies are yet to really embrace offshore wind farms and E.ON’s lead is seen as very positive for the large turbine makers as others are likely to follow suit. Vestas charged out of the gates strongly today, but was again pulled into minus by continued strong downward momentum, spurring from the market-wide consensus, that Vestas will yet have to admit it will not make the lower range of its new orders guidance for 2011. Current announced orders in 2011 are 5629 MW and Vestas’ guidance is for a total order intake of 7,000-8,000 megawatts in 2011.
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