Vestas Points to Strong Backlog as Rising Costs Hit Outlook

August 13, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Inflation, operational issues, and increased costs from repairs and upgrades are giving Vestas Wind Systems A/S (Copenhagen, Denmark) a headache as it tries to reverse its losses from recent years. The company lowered expectations for its full-year profit margin outlook. But executives say some of the expenses are singular in nature and point to a strong global backlog. Industrial Info is tracking more than $44 billion worth of active and planned projects across the U.S. and Canada that are using, or considering, Vestas as a service provider; more than $25 billion worth are capital-spending projects with a medium-to-high (70% or more) probability of beginning construction as scheduled. Other companies featured: Copenhagen Infrastructure Partners, Apex Clean Energy Incorporated, Serena Energia S.A., Innergex Renewable Energy Incorporated and Invenergy LLC.