Vestas Strikes a Deal in France

Written By Brianna Panzica

Posted July 1, 2011

Europe and the United States are providing burgeoning markets for clean energy.

And Vestas (CPH: VWS), the world’s largest wind turbine manufacturer, is taking advantage of that.

On Thursday evening, Vestas announced a deal with French energy company EDF Energies (EPA: EEN).

The Randers, Denmark-based company agreed to provide wind turbines to EDF Energies for their ventures in both Europe and the United States.

Around 50% of the turbines for European wind farms would come from Vestas, and 30% of the turbines needed in the U.S. are also included in this deal.

An immediate order of 180MW in turbines would occur.

Deliveries for the rest of the orders are expected to take place between 2012 and 2014.

This deal in its entirety allows the potential for orders totaling over 2,000MW in capacity, according to Vestas.

Vestas has not announced an estimated value of the deal.

But relative to the average cost for 1MW of turbines from Vestas, the deal could be up to almost $3 billion in value, according to Reuters.

Vesta expects an average of 7,000 to 8,000MW in orders for this year.

That’s almost double compared to last year’s orders.

On Friday, Vestas also announced a deal with several projects in Brazil.

This is one wind turbine company that’s certainly having a good summer.

After the EDF Energies announcement, shares of Vestas went up almost 8%, according to Reuters.

That’s all for now,


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