Vestas Development will play a key role in progressing renewable energy deployment
By 2030, almost all new growth in the energy sector will come from low emission sources, ushered forward by climate change, political support and public opinion. With this, a new energy economy is rapidly emerging and attracting more capital to reach the ever more ambitious renewable energy targets.
This new energy economy is in turn creating a gap between high demand for clean energy and shortage of high-quality renewable energy projects. The lack of projects is slowing down the transition, making it difficult to reach the global net zero target by 2050. Vestas Development leverages our wind expertise to address the need for high-quality development projects.
Part of Vestas Development, Steelhead Americas was formed in 2015 to identify and develop new locations for renewable energy projects in North America that support Vestas technology.
Track record and pipeline
of project pipeline
of FOI from development activities
Leveraging Vestas expertise to de-risk projects and bring them to maturity
By entering projects at different stages of maturity, from greenfield to late stage, we make best use of Vestas’ capabilities and – when developing alongside others – our partners’ expertise as well. We also offer different partnership schemes to match any need.
We control risks during the total project lifecycle both in terms of technical risks and investments required, retaining control to boost or stop investing into projects.
We adopt a flexible exit strategy at different stages but typically divestment takes place before construction operations begin. Projects are sold along with tailored Vestas technology and O&M service contract.
Partnering with Vestas
Vestas Development applies industry-leading tools, capabilities, and data based insights to project development. These are valuable assets that enable Vestas to screen the best sites, optimize layouts, ensure optimal permitting processes, or meet grid requirements, among other technical levers.
Read more about our capabilities here .
Vestas Development offers a wide range of financial solutions, including off-take structuring, project acquisition and grid bond posting. Leveraging access to a strong balance sheet and a proven value, along with a stellar value engineering track record, Vestas Development can acquire projects and maximise profitability at all stages.
With 145GW of installed capacity in 85 countries around the world, Vestas Development benefits from a global footprint and established relations with local governments, public institutions, and private entities. Wherever we operate, Vestas conducts business with integrity and respect of human rights.
Read more about our track record here .