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Home News Vestas Goes After Largest Wind Turbine Order

Vestas Goes After Largest Wind Turbine Order

Wind/Solar Energy, Industry News

Vestas Wind Systems A/S, the biggest maker of wind turbines, climbed in Copenhagen trading after winning its largest order for a single power-generation site.

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TES Staff July 29, 2010

Vestas Wind Systems A/S, the biggest maker of wind turbines, climbed in Copenhagen trading after winning its largest order for a single power-generation site.

Vestas will supply 190 turbines of its V90-3.0 megawatt model to Terra-Gen Power LLC’s Alta Wind Energy Center near Tehachapi in California, the Randers, Denmark-based company said yesterday in a stock-exchange statement.

The order is the fifth Vestas signed in the U.S. this year after winning no contracts in 2009 in the biggest wind-turbine market as the credit crunch squeezed financing for projects. Vestas is spending about $1 billion to expand production capacity in the U.S. where it competes with General Electric Co. over a market that Chief Executive Officer Ditlev Engel has described as having the world’s best wind resources.

“This is an important order because it will help the market’s confidence in Vestas management,” Stig Nymann, an analyst with Copenhagen-based Laan & Spar Bank A/S, said in an e-mail. “This order reduces the risk that Vestas will have to lower its full-year forecast in the next earnings report.”

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