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Seven years after its establishment, Haizea Wind Group has established itself as a leading manufacturer of large components for the wind industry.
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The company achieved a 32% revenue increase in 2024, with net profit soaring by 211%, driven by the efforts of its 1,500-strong workforce.
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Haizea Wind Group operates across four production units: offshore towers and foundations at Haizea Bilbao; offshore towers at Haizea Breizh; large casting components at Haizea Grupo WEC; and onshore towers and suction sails at Haizea Tecnoaranda.
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A key milestone in 2024 was the completion and commissioning of the new monopile factory at Haizea Bilbao, following an investment of over €250 million, significantly boosting production capacity.
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Looking ahead to 2025, the company expects to strengthen its position, backed by a strong backlog from customers including Iberdrola, Ørsted, Vestas, GE Vernova, and Siemens Gamesa.
Haizea Wind Group experienced growth in 2024 across financial results, production capacity, technology, and workforce. The company ended the year with €371 million in revenue, marking a 32% increase from the previous year, and an EBITDA of €47 million. This strong performance fueled a remarkable 211% surge in net profit, reaching €18 million. At the same time, Haizea Wind Group reinforced its position as a key employer in the industry, expanding its team to 1,500 professionals.
Haizea Wind Group continued its growth trajectory in 2024, reporting €371 million in revenue—a 32% increase from the previous year—and an EBITDA of €47 million. This performance drove a remarkable 211% surge in net profit, reaching €18 million. The company also reinforced its role as a key employer in the sector, expanding its workforce to 1,500 professionals.
The Group’s four production units played a pivotal role in this success. Revenue contributions in 2024 were as follows: 63% from offshore tower and foundation activities at Haizea Bilbao and Haizea Breizh; 19% from casting activities at Grupo WEC; and 18% from onshore towers at Haizea Tecnoaranda. Notably, Haizea Bilbao has increased its revenue and contribution to the Group due to its expanded production capacity.
Expansion of Haizea Bilbao
Haizea Bilbao further solidified its industry leadership in 2024 with the expansion of its facilities at the Port of Bilbao. The decision to enhance production capacity, made in 2023, was aimed at fulfilling key contracts with Scottish Power and Ørsted. This involved an investment of over €250 million, adding three new production bays to the existing three, along with additional storage space for monopiles.
With this expansion, Haizea Bilbao has positioned itself as Europe’s leading factory for XXL monopiles, enabling the Group to diversify its customer portfolio and reinforce its role in the global wind industry.
Overview of Other Plants
2024 was a challenging year for Haizea Tecnoaranda and Haizea Grupo WEC, both of which successfully met their financial targets despite difficulties faced by their customers, particularly in the onshore wind sector.
Meanwhile, economic conditions in Argentina also impacted the Group. Since July 2024, regulatory challenges and market instability have weakened the local wind sector. In response, Haizea Wind Group sold its Argentine factory to its local partner, Sica, which will repurpose the facilities for its core business. At the same time, more than 40 employees from Haizea Sica have joined the Bilbao plant, strengthening its production capabilities.
Additonally, production has resumed at Haizea Breizh (France) for the Le Tréport and Noirmoutier projects for Siemens Gamesa, aiming to replicate the success of the St. Brieuc project manufactured in 2023.
Governance and Sustainability
Haizea Wind Group has taken significant steps to enhance corporate governance and sustainability. The company appointed two independent board members and established committees for Strategy, Appointments and Compensation, and Audit. Additionally, corporate structures were streamlined, and financial ratios improved.
The Group remains committed to sustainability, exceeding regulatory requirements with solid governance policies. It has obtained Ecovadis certifications for its Haizea Grupo WEC, Tecnoaranda, and Bilbao plants. The Group is also accelerating its efforts towards decarbonization and the 2030 Agenda through the Forward Faster initiative, focusing on gender equality, climate action, and sustainable finance and investments.
As part of its workforce development strategy, Haizea Wind Group collaborates with specialized employment centers, contributing €2.24 million annually. The Group also runs the HiWind Program, a university expert program in business development in partnership with Mondragon University, and has launched the Tecnoaranda Academy, a dedicated training portal.
