Senvion Cashes In On Offshore Wind

German wind turbine manufacturer Senvion more than tripled its revenue from the sale of offshore wind turbines in the third quarter of 2016, which the company attributed to progress on the Nordsee One and the Nordergründe offshore wind projects.

Offshore wind turbines brought Senvion EUR 88.3 million in revenue in the third quarter of 2016, a 230.7% jump compared to EUR 26.7 million reported for the third quarter of 2015.

In the first nine months of 2016, Senvion added EUR 163.3 million through the sale of offshore wind turbines, a 223.4 percent increase compared to EUR 50.5 million revenue reported for the same period a year earlier.

The company’s offshore wind service revenues have also shown a continuous increase driven by a larger installed fleet, Senvion said.

Services brought Senvion EUR 65.5 million in the third quarter of 2016, a 16.5% increase compared to EUR 56.2 million in offshore wind service revenues reported for the third quarter of 2015.

Looking at the first nine months of the current year, Senvion recorded EUR 203.5 million offshore wind service revenue, 116% more compared to EUR 94.2 million service revenue reported for the first nine months of 2015.

The company currently has a EUR 5.5 billion orderbook which includes the most recent conditional order for 32 6.2M152 turbines to be installed at the 203MW Trianel Borkum II offshore wind farm.