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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 final order for its largest V150-4.2 MW project in Germany, as the country's wind market picks up

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08/13/2020 | 09:34am EDT

News release from Vestas Northern and Central Europe
Hamburg, 13 August 2020 
Demonstrating the slow and stepwise growth that currently characterises the German wind market as it recovers from a historic low in 2019 due to a lack of permits, Vestas has received its second and final order for the 34 MW Dreieck Spreeau wind project, located in Brandenburg, eastern Germany. The 8 MW order, placed by experienced project developer ABO Wind AG, comprises two V150-4.2 MW turbines and it follows an unannounced 25 MW order for the same wind park earlier this year. The project is Vestas' largest with V150-4.2 MW turbines in Germany to date.  

Vestas worked closely with the customer to tailor a solution for the wind park that comprises a total of eight V150-4.2 MW turbines at 166m hub heights in combination with a 15-year Active Output Management 5000 (AOM 500) service agreement, maximising the annual energy production of the project.

The order takes Vestas' firm order intake in Germany past 250 MW in 2020, adding to Vestas' 8,300 wind turbines totaling more than 14.5 GW installed in the country.

"In these challenging times with very few permits for German wind farms, we are especially happy about this flagship project," says Dr. Ute Simon, Head of ABO Wind'sBerlin office. "Despite the coronavirus pandemic, we are contributing to the energy transition in Germany without delay, thanks to our good cooperation with the Institute for Federal Real Estate (BImA) and Vestas".

"I would like to thank ABO Wind for once again choosing Vestas as a partner for realising this significant project. Despite the success of the 5.6 MW EnVentus turbines, the V150-4.2 MW turbine still remains a popular turbine globally as well as in Germany, where it delivers an excellent cost of energy for our customers", says Alex Robertson, Vice President Sales DACH, Vestas Northern & Central Europe. "ABO Wind's success with the V150-4.2 MW turbine shows, that barriers against permits for new projects can be overcome. With a slowly growing volume of permitted projects, we see that the order intake and installations are going up as well. It is important that this development continues, and that the expansion really picks up speed again. The German energy turnaround must finally get back on track".

The contract includes supply, installation and commissioning of the wind turbines, as well as a 15-year Active Output Management 5000 (AOM 5000) service agreement. The project will feature a VestasOnline[®] Business SCADA solution, lowering turbine downtime and thus optimising the energy output.

Deliveries are expected to begin in the fourth quarter of 2021, while commissioning is planned for the first quarter of 2022.
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-final-order-for-its-largest-v150-4-2-mw-project-in-germany--as-the-country-s-wind-mar,c3168330

https://mb.cision.com/Public/18886/3168330/ad7dfba0c6e862ef.pdf

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

Stocks mentioned in the article
ChangeLast1st jan.
ABO WIND AG 0.00%End-of-day quote.0.00%
VESTAS WIND SYSTEMS A/S 0.96% 968 Delayed Quote.42.42%
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Sales 2020 14 445 M 16 899 M 16 899 M
Net income 2020 581 M 680 M 680 M
Net cash 2020 2 368 M 2 770 M 2 770 M
P/E ratio 2020 43,4x
Yield 2020 0,78%
Capitalization 25 206 M 29 548 M 29 489 M
EV / Sales 2020 1,58x
EV / Sales 2021 1,53x
Nbr of Employees 25 865
Free-Float 99,4%
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Average target price 120,10 €
Last Close Price 128,72 €
Spread / Highest target 20,2%
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Henrik Andersen President & Group Chief Executive Officer
Anders Erik Runevad Chief Executive Officer
Bert Åke Stefan Nordberg Chairman
Tommy Rahbek Nielsen Chief Operating Officer
Marika Fredriksson Chief Financial Officer & Executive Vice President