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    VWS   DK0061539921

VESTAS WIND SYSTEMS A/S

(VWS)
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Vestas Wind A/S : selected as preferred supplier for the 2.1 GW Empire Wind 1 and Empire Wind 2 offshore wind projects in the USA

10/18/2021 | 09:01am EST

News release fromVestas North America
Portland, 18 October 2021

Offshore wind energy is rapidly expanding to all parts of the world and following our introduction of the industry's most powerful wind turbine, the V236-15.0 MW, Vestas plays a leading role in this expansion. As a next step to become a leader in offshore wind, Vestas is proud to announce that Empire Offshore Wind, a joint venture between Equinor and bp, has named Vestas as the preferred turbine supplier for the 2.1 GW Empire Wind 1 and Empire Wind 2 offshore wind projects in New York, USA. This is one of the largest preferred supplier agreements to be announced in the USA.

Vestas will provide 138 industry-leading V236-15.0 MW turbines for Empire Wind 1 and 2, located 15-30 miles off the coast of Long Island. With this project, New York, Equinor, bp, and Vestas are together taking a leading role in USA's offshore industry development and bringing the USA one step closer to achieving President Biden's goal of 30 GW of offshore wind capacity installed by 2030 as well as New York State's goal of installing 9 GW of offshore wind capacity by 2035.

"We are honoured to partner with Equinor and bp as preferred supplier for the Empire wind projects and provide our V236-15.0 MW turbine to help New York achieve its ambitious offshore wind energy goals. To be part of a landmark project like Empire Wind 1 and 2 is a testament to the hard work of Vestas colleagues across the world dedicated to developing offshore technology capable of delivering, reliable, resilient, and sustainable wind energy to communities around the world," said Laura Beane, President of Vestas North America.

The tower sections for Empire Wind 1 and 2 are planned to be sourced from the Marmen/Welcon plant, which is being developed in Port of Albany. For staging of turbine components, Vestas will utilize the upgraded port at South Brooklyn Marine Terminal, developing a local, New York-based, supply chain to provide a comprehensive set of services in the staging, pre-assembly and installation activities. 

Vestas has a long history of establishing sustainable, local partnerships and supply chains to serve regional markets, including over 1,000 suppliers in USA, that currently support our onshore business. We have strong expertise in expanding capabilities across the entire supply chain and look forward to working with our partners to support a similar build out for the USA's offshore industry. This project is a catalyst for developing a sustainable New York Supply chain and workforce from manufacturing, to installation, to service.

In addition, Vestas will deliver a comprehensive multi-year solution to service the wind farm when operational, with the goal to establish a New York-based service organisation providing high quality, local employment opportunities.

If and when the agreement with Empire wind materializes in a firm order for Vestas, Vestas will disclose the order in a company announcement in accordance with the company's disclosure policy.


For more information, please contact:
Chante Condit-Pottol
Director, Marketing & Communications
Mail: CHCPO@vestas.com
Tel: +1 (503) 708-6668


About Vestas
Vestas is the energy industry's global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe, and with more than 140 GW of wind turbines in 85 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 120 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 29,000 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-selected-as-preferred-supplier-for-the-2-1-gw-empire-wind-1-and-empire-wind-2-offshore-wind-p,c3434433

https://mb.cision.com/Public/18886/3434433/95217a6247ce1093.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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EQUINOR ASA 0.35% 231 Real-time Quote.58.81%
VESTAS WIND SYSTEMS A/S -2.17% 203 Delayed Quote.-27.93%
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Sales 2021 15 996 M 18 033 M 18 033 M
Net income 2021 416 M 469 M 469 M
Net cash 2021 1 300 M 1 466 M 1 466 M
P/E ratio 2021 67,1x
Yield 2021 0,57%
Capitalization 28 000 M 31 707 M 31 566 M
EV / Sales 2021 1,67x
EV / Sales 2022 1,55x
Nbr of Employees 29 665
Free-Float 99,5%
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Managers and Directors
Henrik Andersen President & Group Chief Executive Officer
Marika Fredriksson Chief Financial Officer & Executive Vice President
Bert ┼ke Stefan Nordberg Chairman
Anders Nielsen Chief Technology Officer & EVP-Power Solutions
Tommy Rahbek Nielsen Chief Operating Officer