The biggest wind turbine maker of the world, Vestas has reported a 23% fall in its shares after reporting a second quarter loss and it also cut its sales forecast.

The turbine maker has seen net losses of 119 million euros in the second quarter of this year compared to a profit of 43 million euros in the same time period of last year. The revenue of the company also fell down by 17% to 1 billion euros in the second quarter compared to the revenue of 1.2 billion euros of last year.

The company has blamed the delayed orders from the US, Germany and Spain for the fall in its revenue and profits. On the other hand the company has received an order of 87 turbines from the China Guangdong Nuclear Wind Power Company and the delivery is expected to be in the last quarter of this year.

The company is hoping for a good result in that quarter because of this order. According to the chief executive of Vestas Mr. Ditlev Engel the China is very aware in developing this type of energy and the whole world should learn from them.