Vestas On Track to Return to Profitability in 2023
Vestas will be a beneficiary of the transition to wind energy as all their profits are derived from the sale and servicing of wind turbines. Wind energy is the optimal energy source to transition to thanks to its environmental, financial and ability to provide energy independence. However, several challenges are impeding its adoption of renewable energy adoption, which includes higher interest rates and cost inflation. Vestas enjoys a leading position in the onshore wind turbine market and is improving its competitiveness in faster-growing offshore wind.