Vestas Wind Spinning Deals

Vestas – American Wind Technology, Inc., a wholly owned subsidiary of Vestas Wind Systems A/S, has received an order for 62 V47-660 kW wind turbines from the California based Cannon Power Corporation.

SAN LUIS OBISPO, California – May 17, 2002 [] The order, with a value in excess of DKK200 million, (US$24.5 million) will be delivered in 2002 for the Cabazon Wind Project located near Palm Springs, California. “We have worked on this project for quite some time, and therefore we are very pleased that it is now becoming a reality,” said Svend Sigaard, Managing Director of Vestas Wind Systems A/S. “Following the extension of the Production Tax Credit, it is very positive to see that several of the large developers are now succeeding with their projects as planned.” In another deal, Vestas – Celtic Wind Technology Ltd., another Vestas Wind Systems subsidiary, has secured a committed order for supply of 71 units of the V52 850 kW turbines with an option for 51 additional turbines from Powergen Renewables, a joint venture between Powergen and Abbot Group. Those turbines have been earmarked for the 60 MW Derrybrien Wind Farm in County Galway of Ireland. The order has a value for Vestas of around DKK 300 million (US$36.8 million) and a further potential of DKK200 million (US$24.5 million) if the option is fully utilized by Powergen Renewables. “This is a very important order for our new production facility in Scotland, that is being inaugurated today,” said Sigaard. “The UK and Irish markets have a large potential for wind energy with the excellent wind resources and the new governmental targets for renewables in the UK and Ireland.”
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