Closely following the evolution of renewable energy in the world, WEG has increased its revenues from solar and wind power solutions, and has gained more and more space in the main global markets. In the United States, where coal has been losing significant space to more sustainable energy sources, WEG has been able to grow and foresee great opportunities.
With government incentives and a business model based on the Production Tax Credit (PTC) and the Investment Tax Credit (ITC), investors and US companies are investing in renewable generation plants and rapidly changing the energy matrix of the country.
Since 2017, WEG has invested heavily in its transformer factories in Mexico and in the US, with the objective of growing the solar and wind power market in North America. Both units have produced more than 2,000 transformers per year dedicated to this market and have won many customers and investors in the United States and Canada.
“It is important to note that we are not only talking about 34.5 kV step-up transformers for wind turbines or solar inverters, but also of power transformers in the voltage classes of 138 to 500 kV, with powers up to 300 MVA. This is changing the landscape of WEG's participation in the renewable energy market, reaching not only the energy generation and distribution market, but also the transmission. Therefore, we are positioning ourselves as one of the key players in this growing market for the generation of clean energy in North America," explains Carlos Diether Prinz, Managing Director of WEG Transmission & Distribution.
The growth potential of renewable sources in the United States is very large and the country has made rapid progress on this path. WEG has been helping to change the country's energy landscape by delivering transformers in the most varied power and voltage classes.
With two factories specialized in the assembly, supervision and commissioning of distribution and power transformers up to 60 MVA - 161 kV in Washington, Missouri, USA., and two other transformer manufacturing units in Mexico, WEG is well positioned to capitalize on the US renewable energy sector and already has a good portfolio of orders for 2024 in the country.