Last year, Vestas generated revenue of 903.7 million lei (EUR204 million) in Romania, up 53.5% from 2012. The company’s profit reached RON1.7 million (around EUR0.4 million), more than 10 times higher than in 2012, while the number of employees almost doubled to 83 people.
Growth came as, according to company data, Vesta in 2013 installed 140 new wind turbines, reached an installed capacity of 868 MW, almost 60% higher than in late 2012.
“Despite political changes, Europe is expected to continue to be the largest market for Vestas. This scenario is particularly based on the European states that are new for wind energy,” reads Vestas’ 2013 report.
Vestas’ growth in Romania largely reflects the boom of Romania’s wind energy field. Whereas in 2009 Vestas had installed only 22 turbines in Romania, in 2013 the group had 359 windmills, sold to clients such as Lukerg Renew, STEAG, Energias de Portugal or Petrom.
At the level of the entire market, Romania went from 6 turbines installed in 2009 to 1,160 turbines in the first three months of this year.
At this moment, Romania has around 2,900 MW installed in wind projects, which last year covered over 7% of national energy output. On average, investments of EUR1.5 million are needed to install a MW in a wind project.
However, the pace of installing new capacity in wind projects slowed down significantly in the first months of this year. The numerous legislative changes and the reduction of the support scheme that fueled the development of this field cut investors’ appetite for the sector.
Moreover, some of the largest wind project owners are already seeking buyers for their projects.
The largest wind energy investors in Romania are CEZ (the Czech Republic), Enel (Italy) and Energias de Portugal. Beside Vestas, another major player in the turbine field is US General Electrica.
(English version by Catalina Apostoiu)