Vestas has received an order for 29 MW of 4 MW compatible turbine components that qualify for 80 percent of the PTC value under the bipartisan PATH act that Congress passed in 2015. The PTC qualifying components enable future wind energy projects to be realised.
With the order, Vestas’ total order intake for 2017 reaches 10,022 MW based on announced orders in all four quarters of 2017 as well as unannounced orders in the first three quarters of 2017. Unannounced MW of orders received in the fourth quarter of 2017 will be disclosed in the annual report in February 2018. Following last year’s record high order intake of close to 10.5 GW, this is the second time that Vestas reaches the 10 GW mark since pioneering the global wind industry 37 years ago.
The long-term PTC phasedown terms set in the PATH act made the wind industry the first energy industry to agree to permanent tax reform, and have resulted in nearly USD 50 billion of investment in the U.S., including the expansion of factories, hundreds of millions of dollars in technology innovation investment and the addition of tens of thousands of jobs across the wind value chain. In 2016, the wind industry added jobs 9 times faster than the overall U.S. economy, and today there are more than 102,000 wind industry workers, including the fastest growing job in the U.S. – wind turbine technician.
Wind is the low-cost energy of choice for consumers and companies and delivers millions of dollars in economic growth and jobs to American communities. Each American-made wind turbine supports 30 jobs over the course of its lifetime through the production, supply chain, construction, and operation of the wind projects.