Vestas Sees 36% Surge in Turbine Orders Driven by Offshore Wind Momentum

Vestas

Offshore wind demand fuels rebound as average turbine selling price rises

Vestas expands service backlog and returns to profitability in Q1 2025

Danish wind turbine manufacturer Vestas recorded a 36% year-on-year increase in turbine orders during the first quarter of 2025, reaching a total of 3.1GW. The focus keyphrase "Vestas turbine orders" reflects a clear resurgence in wind sector activity, particularly within offshore wind markets.

Offshore turbines accounted for 1.5GW of the new orders, offsetting a decline in onshore demand. Notably, Vestas secured a 1GW order for the Nordlicht 1 offshore wind farm in Germany, highlighting Europe’s continued leadership in offshore renewables.  Meanwhile, U.S. demand remained subdued, with orders falling from 1.1GW to 189MW due to policy uncertainty.

Turbine deliveries also rose sharply, up 38% year-on-year to 2.4GW, with a notable increase in offshore volumes. The average selling price improved to €1.24mn/MWh from €1.18mn, driven by the growing share of offshore installations, which tend to command higher margins.

Service operations also expanded. The value of Vestas’ service backlog rose to €37bn, with its global service portfolio growing to 157GW. Regionally, the firm added 2GW in EMEA, 5GW in the Americas, and 1GW in Asia-Pacific, reflecting robust multi-regional engagement.

Financially, Vestas returned to profitability, posting a €5mn gain versus a €75mn loss a year earlier. Quarterly revenue jumped 29% to nearly €3.5bn, showcasing operational recovery and pricing power in a competitive market. However, its 27GW project portfolio still awaits order conversions.

The Metalnomist Commentary

Vestas’ offshore pivot appears to be paying off, both in order volume and financial performance. As global policy incentives around offshore wind accelerate, Vestas is strategically positioned to dominate new installations—especially in Europe and emerging Asia-Pacific markets.