MHI Vestas Rules 8MW+ Turbine Realm

Wind turbines rated 8MW or higher comprised more than 40% of offshore order capacity in 2018, with MHI Vestas accounting for 64% of this ratings segment, according to new research by Wood Mackenzie Power & Renewables.

The Global Wind Turbine Order Analysis: Q1 2019 report writes that the industry announced almost 8GW of offshore order capacity in 2018, beating the previous record of 2016 by nearly 2GW. 

"Demand in the offshore wind sector impacted technology mix and turbine rating segmentation of the 2018 order activity," said Luke Lewandowski, WoodMac Power & Renewables Research Director and report author.

“In terms of further activity in this space, seven OEMs secured orders in China and three separate OEMs secured firm orders outside of China. Additionally, demand for MHI Vestas technology significantly contributed to the increasing share of direct drive technology over the past couple of years."

The global wind turbine order capacity increased by 31% in 2018, while the order intake was up 20% in the fourth quarter of 2018 year-on-year to nearly 18GW, surpassing the record in 2016 by 5.4GW.

The report also revealed that the majority of regions recorded an increase in firm order capacity year-on-year in Q4 2018.

WoodMac believes that the global turbine pricing remains relatively stable quarter-on-quarter, if not increasing in certain markets.

"Demand for new turbine models ahead of policy expirations and targets has started to fill order books as OEMs transition production lines, which has caused a modest uptick in pricing," Lewandowski concluded. "As transmission availability and permitting challenges increase the complexity of developable areas, we see an increasing demand on innovation and customised equipment."

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