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

VESTAS WIND SYSTEMS A/S

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Vestas Wind A/S : secures 86 MW order to extend wind project in Finland

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08/26/2020 | 09:05am EDT

News release from Vestas Northern and Central Europe
Hamburg, 26 August 2020
Vestas has secured an 86 MW order with German developer CPC Germania for the Lakiakangas III project located in Isojoki in the South Ostrobothnia region of Finland. The order includes the supply, installation and commissioning of 20 V150-4.2 MW wind turbines in 4.3 MW Power Optimised Mode as well as a 20-year Active Output Management 5000 (AOM 5000) service agreement that will ensure optimised performance and long-term business case certainty for the customer.

Vestas has worked closely with CPC Germania to develop the most cost-effective and competitive solution that was awarded in Finland's first technology neutral renewable energy auction in 2019. With this deal, Vestas reinforces its presence in Finland`s wind market, where we have installed roughly 400 wind turbines with a total capacity of almost 1,2 GW to date.

"After the successful completion of Lakiakangas I and II projects, we are pleased to be working again with Vestas in the Lakiakangas III wind farm. With 20 Vestas V150-4.3 MW turbines, Lakiakangas III becomes our biggest wind farm in Finland so far and CPC adds another significant step to our long-term relationship with Vestas. We trust that Vestas has the technology, track-record and the local service organisation to make this project a success over the decades ahead", says Markus Tacke, the CEO of CPC Germania.

"We are pleased to have been awarded this project and thereby continue our successful collaboration with CPC Germania. Following our orders for the first two phases of the Lakiakangas project, this contract win is further proof for Vestas` ability to support our customers in winning even the most competitive auction tenders and to assist Finland in its transition towards a clean energy system with limited cost to society", says Nils de Baar, President of Vestas Northern & Central Europe.

The Lakiakangas III order follows Vestas` contract wins for the Lakiakangas I and Lakiakangas II projects with CPC Germania. Both projects are already fully operational. While Lakiakangas I generates revenue under the Finnish feed-in tariff, the Lakiakangas II project is remunerated under the first Finnish PPA (power purchase agreement) with a third party - meaning it is realised without state subsidies.

Turbine delivery is expected to be completed by the second half of 2021.
For more information, please contact:
Christina Schmidt
Communications Partner
Vestas Northern & Central Europe
Tel: +49 40 46778 5153
Mobile: +49 (0) 160 90141736
Email: chbut@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 117 GW of wind turbines in 81 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 104 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 25,500 employees are bringing the world sustainable energy solutions to power a bright future.

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-secures-86-mw-order-to-extend-wind-project-in-finland,c3181735

https://mb.cision.com/Public/18886/3181735/b7797303d51811cf.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English


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Sales 2020 14 510 M 17 158 M 17 158 M
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P/E ratio 2020 51,8x
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EV / Sales 2020 1,87x
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Anders Erik Runevad Chief Executive Officer
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Marika Fredriksson Chief Financial Officer & Executive Vice President