Who is Vestas?
Vestas is the energy industry’s global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe. With more than 145 GW of wind turbines in 85 countries, we have installed more wind power than anyone else.
Wind energy offers an exciting new carbon-free future and drives major economic growth. Vestas developed Steelhead to use its industry expertise and leading technology to unlock the full value of the clean energy transition and bring the benefits of wind energy to more communities and industry partners.
Vestas is a foreign company, what impact does this have on national security?
At Vestas, our main goal is to strengthen American energy production with domestic renewable energy projects. We have a large footprint in the US – our headquarters are in Oregon and we have several offices across the country, as well as two factories in Colorado.
Today, Vestas employs over 5000 workers and has installed 40 GW of wind energy across the US. Vestas also has along history of establishing local partnerships and supply chains to develop domestic projects that strengthen America’s energy production. Last year, we spent $1.6 billion across over 1,200 US vendors.
By investing in wind energy, we can decrease reliance on foreign oil and gas imports, thereby enhancing national security. Wind turbines generate clean, renewable energy domestically, reducing the need for foreign energy sources.
Who is Steelhead?
Steelhead Americas, or “Steelhead”, is Vestas’ development arm in North America. We were formed in 2015 and currently have a total of 3 GW of renewable development projects across the US.
Formed in 2015, Steelhead both creates and acquires new wind and solar assets and specializes in all stages of the development process. Steelhead currently has 1.4 GW in operation or construction with 3 GW in the pipeline.
By leveraging our access to Vestas’ latest turbine technology and leading service operations, we advance in existing markets and unlock new markets in North America, bringing us one step closer to our vision of a more sustainable future led by renewable energy. Learn more about Steelhead here.
Steelhead establishes local partnerships to bring the benefits of renewable energy to local communities and industry partners.
How much wind energy will Steelhead generate? How many homes can this electricity power?
Steelhead currently has 1.4 GW of renewable energy projects developed, and 3 GW of renewable energy projects in the pipeline. 1 GW of wind energy is roughly the size of two coal-fired power plants and is enough energy to power 750,000 homes. With this, our current project portfolio creates enough clean energy to power about 1,050,000 homes.
Will Steelhead be the long-term owner of the project?
Steelhead will not be the long-term owner of the project; however, we do have a vested interest in the project. We create and acquire new renewable energy assets, leading all stages of the development process including permitting, land acquisition, construction design, and contractor selection to deliver a project that is ready for construction and installation.
Our wind projects will likely use Vestas turbines; giving us a long-term vested interest in the longevity of the project and maintaining community relations. Vestas will also likely provide turbine service and maintenance over the project’s lifetime to ensure they are running safely and efficiently. These full-time technicians will be local to your community.
In the case of a project purchase, we conduct a thorough vetting process for potential successors to ensure they will keep local interests at the heart of the project.
How does Steelhead have the industry experience needed at only 6 years old?
While Steelhead is only 6 years old, we have the global backing and resources of Vestas as well as a seasoned team of professionals with nearly 200 years of experience, averaging around 8.5 years per person in Steelhead. With a team dedicated to expanding wind energy, we keep the interests of the community in mind and create a project that will provide local economic benefits throughout the life of the 30-year project.
We leverage Vestas’ industry expertise, proven technology, and innovation to craft a responsible business case to bring a project to market and initiate vetted development efforts that not only incorporates community interests but is attractive for investment by utilities and corporate buyers.
Vestas reported financial losses in 2022. What does this mean for the wind energy industry and how will it impact Steelhead's development projects?
Yes, Vestas’s 2022 financial report shows that Vestas and the wind industry remained challenged due to high-inflation and supply chain challenges. While unfortunate, Vestas did expect profitability to be challenged in 2022 due to supply chain challenges brought on from the pandemic. In fact, all 3 major OEMs reported financial losses in 2022.
However, Vestas’s fourth quarter was very strong with all-time high turbine sales. Vestas’s service operations business also continued to increase and grew 27% year over year. Vestas’s growing service business continues to ensure our turbines operate safely for our communities and landowners.
Despite these challenges, Vestas installed nearly 400 turbines in the US last year alone, delivering over 2,000 MW of wind energy. This is enough to power over 900,000 US homes every year and provides new economic opportunities for US communities.
Wind energy continues to be America’s largest form of renewable energy and we are optimistic about the future of the US wind industry. The market is expected to ramp-up beginning in 2024. The US has also made significant investments to build out clean energy across the country with the recent passage of the Inflation Reduction Act.
Vestas and Steelhead look forward to continuing to build meaningful partnerships with local communities to bring renewable energy to new areas. Steelhead’s projects are on track/moving forward and we look forward to bringing economic growth and affordable energy to communities.
Where does Vestas manufacture it's turbines?
Vestas has nearly 30 factories across the globe and two factories in Colorado that produce turbine blades and nacelles. Vestas leverages both a local and global supply chain to manufacture and install turbines. Last year, Vestas spent $1.7 billion across 1,300+ suppliers in the US alone.
