Wind turbine maker Vestas slashed its full-year operating profit margin outlook due to the war in Ukraine and writedowns in its offshore business, as it reported a deeper-than-expected first quarter operating loss.

At the time, that meant adding peaking capacity with gas turbines. Peaker plants run only at times of high electricity demand, which means that they generally have a low capacity factor – in many instances they are only called into action for about 10% of the entire year, each year.