Vestas CEO Henrik Andersen said on Wednesday he remains optimistic about the long-term outlook for the U.S. onshore wind market, even amid ongoing federal policy uncertainty and potential trade disruptions.
Following the release of the Danish wind turbine manufacturer’s second-quarter results, Andersen pointed to a newly announced 950-megawatt (MW) order in the U.S. as a sign of continued market momentum.
“You don’t like to put orders down in any market, anywhere in the world, if there is not policy clearance,” Andersen told analysts. He added that the current order pipeline in the U.S. does not appear to be a short-term surge, but rather indicative of “substantial activity” expected through the remainder of the decade. “We know that from talking to U.S. customers,” he said.
Andersen noted that the U.S. wind supply chain has matured significantly, while electricity demand—particularly from data centres and the broader tech sector—continues to rise.
Still, the CEO declined to forecast full-year order volumes, citing volatility in project timing. “It’s simply too lumpy,” he said.
Market participants are awaiting updated guidance from the U.S. Treasury Department, expected next week, on tax credit eligibility under the Inflation Reduction Act (IRA). The guidance is expected to define what constitutes the start of construction for projects seeking to qualify under the so-called “safe harbour” provisions, particularly as the sector navigates shifting policy under the incoming Trump administration.
Andersen said Vestas is anticipating a shorter timeline than the four years currently allowed to complete construction once a project qualifies. He also suggested that the threshold to qualify for safe harbour status—currently set at 5% of project costs—could be raised. “That would be my interpretation of where we are, and in a week’s time we will know,” he said.
Addressing concerns around potential tariffs under the new administration, Andersen described the situation as a “moving target” and acknowledged the impact on Vestas’ U.S. manufacturing operations, which still depend on imported components.
“We do whatever we can, together with customers, to mitigate” potential tariffs, Andersen said. “When we find ways of doing it, we lock it down.” However, he warned: “It will go negatively for trade and it will go negatively for the end consumer, period.”
Despite the challenges, Andersen emphasised that well-advanced projects are still moving forward. “If you have a project that is already well-permitted, has an offtake, and also has clearance on the other parts, there’s no need to wait for potentially what comes on an IRS guidance under the safe harbour ruling,” he said.
