The No. 1 global wind tower company, CS WIND held a ceremony to celebrate the completion of the expansion of its offshore wind tower production plant and the 20th anniversary of its establishment at its production center in Phu My, Vietnam, today at 10 a.m. (local time).
The ceremony was attended by all employees, including CS WIND Chairman Seong Gon Gim, key customers and suppliers, including Materlik Holger, Head of Tower Division at Siemens Gamesa, and Henrik Andersen, CEO of Vestas, as well as about 140 local dignitaries, including Consul General of the Republic of Vietnam Chung Il Shin and Vice Chairman of the People's Committee of Ba Ria Vung Tau Province Nguyen Cong Binh.
The expansion is part of a $3.8 trillion offshore wind tower supply contract signed with Siemens Gamesa in 2022 to meet the rapidly growing demand for offshore wind power in Europe and Asia. The Vietnamese production unit has invested US$80 million to significantly expand its offshore wind tower production capacity, utilizing an existing 240,000-square-meter site.
The expansion, which began in April 2023, was completed in March 2024 and is expected to be fully operational in the second half of this year. With this expansion, the Vietnam entity will have an annual production capacity of approximately 360,000 tons of onshore and offshore wind towers, and the maximum offshore tower diameter will increase from 8 meters to 10 meters. In addition, the company will be expanding its workforce over the course of the year to accommodate the expansion.
In addition to the Vietnam subsidiary, the offshore wind tower production facility in Portugal, which began expansion in January 2023, is also scheduled to be completed and operational in the first half of this year. CS WIND's move is due to the accelerated installation of large-scale offshore wind farms in Europe and the U.S., which is expected to increase the demand for offshore wind power to four to five times the existing level from 2025 onward, resulting in a mid- to long-term supply shortage of offshore wind towers.
In December 2023, the company acquired Bladt Industries, a global offshore wind substructure manufacturer, to expand its business scope from offshore wind tower manufacturing to offshore wind substructures, and is accelerating the transition to clean energy as a global leader in the global offshore wind power market.
Seong Gon Gim, Chairman of CSWind, attended the event and said, "The Vietnam entity, which is the first starting point of CS WIND, has completed the expansion of offshore wind tower production facilities in line with the 20th anniversary of its establishment. We would like to thank our employees, business partners, and stakeholders for their support and participation in our growth." "With this expansion, we will do our best to lead the offshore wind industry and enhance our market position," said Mr. Gim.
