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TPI Blade Factory Bids, Vestas Wins Offshore Deal

TPI Blade Factory Bids, Vestas Wins Offshore Deal

Published 4 months, 4 weeks ago
Description

Allen covers Vestas’ turbine supply deal with RWE for the 1.4 GW Vanguard West offshore project in England and its bid for TPI Composites’ blade factories in bankruptcy court. Plus Germany’s Nordlicht One foundations arrive ahead of schedule and Enel buys $1 billion in US wind and solar assets.

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You know … there is a company in Denmark that makes wind turbines. Vestas.

And this week … Vestas had itself quite a week.

On one hand … the Danish giant just locked in a deal to supply ninety-two of its massive V236 turbines to RWE’s Vanguard West project off the east coast of England.

One-point-four gigawatts of offshore wind. Each turbine … fifteen megawatts.

That project just won a Contract for Difference in the UK’s Allocation Round Seven. RWE and its partner KKR want a final investment decision by this summer … and power flowing by twenty twenty-nine.

And this is part of something bigger. RWE signed preferred supplier agreements with Vestas back in December of twenty twenty-three for the entire four-point-two gigawatt Norfolk Wind Zone. That is three massive projects … off one English coast.

So Vestas is building turbines for the British. But here is where it gets interesting.

Over in a Houston bankruptcy court … wind blade maker TPI Composites has been carving up its assets since filing Chapter Eleven last August.

A firm called ECP V acquired the bulk of TPI’s remaining operations. They were the only bidder. The auction … canceled.

But certain facilities in Mexico and India? Those were carved out of the deal entirely. And the company circling those assets? Vestas.

The very same Vestas building turbines for England has put in its own qualified bid for the blade-making plants that once served it as a customer.

So while one hand signs turbine contracts … the other reaches into bankruptcy court to secure its own supply chain.

Now … across the North Sea in Germany … the Nordlicht offshore wind cluster just hit a milestone of its own.

The first monopiles and transition pieces for Nordlicht One … finished ahead of schedule. Sixty-eight foundations. Each monopile … eighty meters long. Nearly thirteen hundred tonnes of steel.

When complete … Nordlicht One will be Germany’s largest offshore wind farm at nine hundred and eighty megawatts. Combined with Nordlicht Two … the cluster will generate six terawatt-hours of clean electricity every year.

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