27 April 2010

Vestas announces largest ever wind deal

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Wind turbine manufacturer inks 1,500MW mega-deal with Portuguese utility

The health of the glopbal wind energy sector was underlined today when Danish manufacturing giant Vestas announced it has secured the largest deal in its history, inking an agreement to provide Portuguese wind power firm EDP Renovaveis wiuth a minimu of 1,500MW worth of turbines.

The agreement, which includes an option for EDP to order a further 600MW of turbines, drove Vestas' share price up by over 11 per cent as analysts speculated that the deal could be worth up to €1bn for the manufacturer.

The company did not disclose the financial details of the deal, but said in a statement that the turbines would be delivered to projects in Europe, North America and South America between 2010 and 2012.

It added that the so-called Master Supply Agreement also includes a two-year service and maintenance agreement extendable to five or ten years, with a subsequent Technical Assistance Agreement for an additional period.

EDP Renováveis, the renewable energy arm of Portuguese utility giant, is already the third largest generator of wind power in the world, boasting 6,227MW of installed capacity and a further 30,310 MW of projects in its development pipeline.

(businessGreen)

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