Offshore Wind Key Focus Area for LM Wind Power

Offshore wind remains a key focus area for LM Wind Power, the company stated as it issued its 2016 annual results, reporting a revenue of EUR 1.06 billion, (EUR 750 million in 2015) and an EBITDA of EUR 174 million (EUR 98 million in 2015). 

As one of the highlights in 2016, LM named the installation of LM 73.5 meter blades at the Block Island offshore wind farm, the first offshore wind farm in the U.S., as the project is significant in demonstrating the feasibility of offshore developments in North America.

In mid-2016, LM Wind Power and Adwen, the developer of an 8MW turbine with a 180m rotor, presented the world’s longest wind turbine blade. In October 2016, LM announced the acquisition by GE which is expected to be finalised during the second quarter of 2017. LM Wind Power recently kicked off the construction of its offshore wind turbine blade factory in Cherbourg, France, where blades for both GE’s Haliade and Adwen’s 8-180 will be produced.

Generally, growth offshore, for example in Europe and China, presents still greater challenges as blades grow longer and confront the marine operating environment which can be exceptionally harsh, the company said, further adding that one reason for the vote of confidence in its offshore wind turbine blades is the significantly improved quality performance with record low claims – a 20% reduction since 2015. “Our data is getting stronger every day and is clearly showing that our blades will survive a 20 year lifespan,” the company stated.

LM Wind Power currently counts 13 factories worldwide and an average number of employees of 7,294.

At the end of the last year, the blade manufacturer announced it will become carbon neutral by 2018, and plans to source all of its electricity from wind in 2017.

Offshore WIND Staff