Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Vestas Wind Systems    VWS   DK0010268606

VESTAS WIND SYSTEMS (VWS)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweetsMarketScreener Strategies

Vestas Wind : Moray East Signs Firm Order with MHI Vestas Offshore Wind

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2018 | 11:36am CET

(GlobeNewswire) - News release fromVestas Wind Systems A/SAarhus, 06 December 2018

Confirming the largest MW project to date in the companys history, MHI Vestas will supply 100 V164-9.5 MW turbines for the 950 MW project to be installed in Scotlands Moray Firth. The project references Vestas Wind Systems A/S company announcement No. 30/2018.

MHI Vestas Offshore Wind celebrated financial close today with Moray East for the 950 MW Moray East Offshore Wind Farm as the offshore wind turbine manufacturer signed a firm turbine supply order. The order includes a 15-year service agreement.

Moray Offshore Windfarm (East) Limited, known as Moray East, is a 950 MW offshore wind project 22km from the coast of Scotland, which in 2017 won a Contract for Difference (CfD) from the UK Government to supply electricity at 57.50/MWhr, representing a significant cost reduction compared with similar projects under construction today (typically 140/MWhr).

Project Director for Moray East, Oscar Diaz, said, Moray East is a landmark project for the offshore wind industry, delivering sustainable, renewable generation at a highly competitive power price. The project will bring new opportunities to areas including Fraserburgh, where we have announced the windfarms operations and maintenance base will be located, and in the Cromarty Firth, where the port was last week selected as the pre-assembly port.

We look forward to working with MHI Vestas, particularly in Fraserburgh and in Invergordon, where we have ongoing plans for local supply chain engagement.

MHI Vestas Offshore Wind CEO, Philippe Kavafyan, said, We are pleased that Moray East has reached financial close. With the signing of the firm order, we can accelerate preparations for our companys largest MW project to date. Installing the worlds most powerful commercial turbine, the V164-9.5 MW, in Moray Firth means more local, clean energy jobs in Scotland and across the UK, including our most recent expansion of blade production on the Isle of Wight.

In May, Moray East announced Fraserburgh as the preferred Operations and Maintenance port for the project and only last week, the Port of Cromarty Firth was selected as the pre-assembly harbour, sending a strong signal that the project is progressing on schedule.

The news from MHI Vestas Offshore Wind comes on the heels of its recent announcement that the companys blade factory on the Isle of Wight received a second blade mould and is in the process of hiring 380 new, direct jobs to keep pace with growing demand.

For more information, please contact:Michael MorrisMHI Vestas Offshore WindMail: mijmo@mhivestasoffshore.com Tel: +45 8844 8950

Anders RiisDirector, VestasMail: ANPRR@vestas.comANPRRTel: +45 4181 3922

About MHI Vestas Offshore WindMHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S 50% and Mitsubishi Heavy Industries (MHI) 50%. The companys focus is to design, manufacture, install and service wind turbines for the offshore wind industry. The company aims to create sustainable value through offshore wind power by driving capital and operating savings and increasing the power output of wind turbines. An innovative force in offshore wind since its inception in 2014, the company is guided by its founding principles of collaboration, trust, technology and commitment. For more information, see www.mhivestasoffshore.com or follow @MHIVestas on Twitter.

About Moray East Offshore Windfarm LimitedMoray Offshore Windfarm East is a joint venture company owned by EDP Renewables (43.3 pc) and ENGIE (23.3pc) and Diamond Green Limited (DGL) (33.4pc). In 2017, the project was awarded a 57.50/MWhr contract for Difference (CfD) by the UK Government.

Project Timeline

2010 project development commenced when development rights were won in the UKs 3rd round of offshore wind licencing. The Moray Firth Zone (Zone 1) was split into two, to enable Moray East to be developed ahead of Moray West, as there were constraints in the west of the zone. (Constraints in the west eased, and development of Moray West commenced in 2016).

2014 planning consent was awarded by the Scottish Government (offshore works) and Aberdeenshire Council (onshore works)

2017 A 950 MW Contract for Difference (CfD) was won in the UK Governments 2nd competitive CfD auction. The CfD provides a contract for electricity for 15 years at 57.50/MWhr.

Project Statistics

Capacity: 950 MW

Location: UK, 22km from North East coast

Turbines: V1649.5 MW

Power for average requirements of ca. 950, 000 UK homes

About VestasVestas is the energy industrys global partner on sustainable energy solutions. We design, manufacture, install, and service wind turbines across the globe, and with 97 GW of wind turbines in 79 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled 83 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas more than 24,400 employees are bringing the world sustainable energy solutions to power a bright future. For updated Vestas photographs and videos, please visit our media images page on:https://www.vestas.com/en/media/images.We invite you to learn more about Vestas by visiting our website at www.vestas.com and following us on our social media channels:

www.twitter.com/vestas

www.linkedin.com/company/vestas

www.facebook.com/vestas

www.instagram.com/vestas

www.youtube.com/vestas

Attachment

181206_nr_uk_vws

(c) 2018 Business and Financial Times - All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
ENERGIAS DE PORTUGAL -1.20% 3.056 Delayed Quote.5.93%
VESTAS WIND SYSTEMS -2.42% 487.5 Delayed Quote.16.51%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VESTAS WIND SYSTEMS
12/10VESTAS WIND : Transactions in connection with share buy-back programme, week 49 ..
AQ
12/07VESTAS WIND : Moray East Signs Firm Order with MHI Vestas Offshore Wind
AQ
12/03VESTAS WIND : Transactions in connection with share buy-back programme, week 48 ..
AQ
11/29Vestas receives 220 MW order in USA and secures 10 GW of order intake in 2018
GL
11/28Vestas secures first multi-brand repowering order from PacifiCorp
GL
11/27Vestas secures 52 MW EPC contract from Jordanian auction
GL
11/26VESTAS WIND : - Transactions in connection with share buy-back programme, week 4..
AQ
11/21Google invests $700 million in Danish data centre, secures green energy
RE
11/20Google invests $700 million in Danish data centre, secures green energy
RE
11/19VESTAS WIND : - Transactions in connection with share buy-back programme, week 4..
AQ
More news
News from SeekingAlpha
11/27Vineyard Wind names MHI Vestas preferred supplier for Mass. wind project 
11/20THE FUTURE-PROOF PORTFOLIO FOR YOUNG : Stability In A Volatile Period 
11/11Vestas Wind Systems A/S ADR (VWDRY) CEO Anders Runevad on Q3 2018 Results - E.. 
11/07Vestas +7% as Q3 earnings miss estimates but sees brighter outlook 
11/07Vestas Wind reports Q3 results 
Financials (€)
Sales 2018 10 292 M
EBIT 2018 1 012 M
Net income 2018 754 M
Finance 2018 2 892 M
Yield 2018 1,73%
P/E ratio 2018 18,38
P/E ratio 2019 17,27
EV / Sales 2018 1,06x
EV / Sales 2019 0,98x
Capitalization 13 770 M
Chart VESTAS WIND SYSTEMS
Duration : Period :
Vestas Wind Systems Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VESTAS WIND SYSTEMS
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 65,6 €
Spread / Average Target -2,0%
EPS Revisions
Managers
NameTitle
Anders Erik Runevad Group President & Chief Executive Officer
Bert Åke Stefan Nordberg Chairman
Jean-Marc Lechêne Chief Operating Officer & Executive Vice President
Marika Fredriksson Chief Financial Officer & Group Executive VP
Anders Jakob Vedel Chief Technology Officer & Executive VP