Haizea Reports Record Profit for 2024

Haizea Wind Group ended 2024 with a 32 per cent higher revenue and a 211 per cent higher net profit compared to the previous year. The Spanish offshore wind tower and foundation manufacturer says it expects growth in 2025 as well, thanks to its order backlog and primarily the orders from Iberdrola, Ørsted, Vestas, GE Vernova and Siemens Gamesa.

The company said on 26 March that its 2024 revenue was EUR 371 million, 32 per cent more than in the previous year, and its EBITDA was EUR 47 million, boosting its profit by 211 per cent to EUR 18 million.

Haizea Wind Group has production units spread across four different plants: offshore wind towers and foundations at Haizea Bilbao (Spain); offshore wind towers at Haizea Breizh (France); large casting components at Haizea Grupo WEC (Spain); and onshore towers and suction sails at Haizea TecnoAranda (Spain). The company also had a factory in Esperanza, Argentina, which it sold to its local partner Sica.

In 2024, Haizea completed the expansion of its facility at the Port of Bilbao, in which the company invested more than EUR 250 million to add three more warehouses to the existing three, as well as an additional storage area to store the monopiles before delivery. The decision to expand the capacities in Bilbao came in 2023, after Haizea Wind Group secured contracts with ScottishPower, Iberdrola’s UK company, and Ørsted.

At the Haizea Breizh facility in France, work is currently underway on producing wind turbine towers for the Dieppe-Le Tréport and Îles d’Yeu and Noirmoutier offshore wind projects for Siemens Gamesa, following the same work completed in 2023 for the Saint-Brieuc offshore wind farm.

In 2024, Haizea Wind Group also secured a EUR 35 million green loan from the European Investment Bank (EIB) to enhance manufacturing technologies and research and development (R&D) for wind turbine components.

The loan is said to enable the Spanish company to implement advanced manufacturing technologies, automate and digitalise processes, and move forward with R&D applied to the manufacture and assembly of large metal structures for wind turbines, such as towers, monopile foundations, and transition pieces (TPs).

In December 2024, the Group joined the Offshore Wind Foundations Alliance (OWFA), formed by Bladt Industries, EEW Special Pipe Constructions, Sif Netherlands, Smulders Projects Belgium, and Steelwind Nordenham in 2021.