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

VESTAS WIND SYSTEMS

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Vestas Wind : leads the market in Vietnam with third intertidal project win

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12/30/2019 | 08:08am EST

News release from Vestas Asia Pacific
Singapore, 30 December 2019 

Vestas leads the market for wind energy in Vietnam with almost 200 MW of projects won in 2019 after securing a 50 MW order with Cong ty Co Phan Dau Tu Dien Gio Hoa Binh 1 (Hoa Binh 1 Company), a company owned by Phuong Anh Group. The order marks Vestas' third intertidal project in the country with three different customers announced this month, underlining Vestas ability to deliver tailored solutions to match different customer needs.
 

The project will be located in Hòa Bình, a district of Bạc Liêu Province where the turbines will be installed in shallow waters close to shore to exploit the full potential of the Mekong Delta region's good wind conditions.
The contract includes the supply and supervision of the installation of 13 V150-4.2 MW wind turbines with ten turbines delivered in 3.8 MW and three turbines delivered in 4.0 MW operating modes to optimise energy production for the site's specific wind conditions. Each turbine will be equipped with a full-scale converter, enhancing the wind park's compliance with grid requirements.

"This third intertidal win demonstrates Vestas' ability to develop wind energy solutions for projects close to shore to capture the unblocked wind resources from the sea", said Tommaso Rovatti Studihrad, Sales Director of Vestas Asia Pacific. "We had to collaborate very closely to ensure the suitability of the foundation design for the marine conditions, and we would like to thank Hoa Binh 1 Company for choosing to work with us on this project".

"Vestas is ready and committed to support Vietnam's growing ambition to increase renewable energy sources, and 2019 has been a great year for us so far, with close to 200 MW of projects secured already", said William Gaillard, Sales Vice-President of Vestas Asia Pacific. "With Vietnam's FIT deadline in November 2021, and longer lead-times for equipment deliveries due to high global demand, it is absolutely crucial for us to work hand in hand with our customers to ensure a successful and timely project completion".

Mr. Dao Hai Linh, General Director of Hoa Binh 1 Company said: "We highly appreciate the experience and strong support from the Vestas team during the project development process; this project is the important initial step for long-term partnership between us. On this basis, we will continue developing the future phases of the project with a total capacity of 100 MW. We look forward to extending our cooperation beyond turbine supply, including installation as well as EPC services for our projects".

The project also includes a 10-year Active Output Management 5000 (AOM 5000) service agreement, designed to maximise energy production for the project. With a yield-based availability guarantee, Vestas will provide the customer with long-term business case certainty. Turbine installation is expected to be completed in the third quarter of 2021.
For more information, please contact:
Stephanie Foo
Senior Manager, Marketing & Communications, Asia Pacific
Tel: +65 9645 4558  
Mail: FOHKH@vestas.com
About Vestas
Vestas is the energy industry's global partner on sustainable energy solutions. We design, manufacture, install, and service wind turbines across the globe, and with more than 108 GW of wind turbines in 80 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 91 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 25,000 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

https://news.cision.com/vestas-wind-systems-a-s/r/vestas-leads-the-market-in-vietnam-with-third-intertidal-project-win,c2999768

https://mb.cision.com/Public/18886/2999768/8bbbce7f043bb48d.pdf

(c) 2019 Cision. All rights reserved., source Press Releases - English

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