Denmark's Vestas Wind Systems has gained two orders each of 25 V80-2.0 MW wind turbines for a wind power project in Chifeng in Inner Mongolia, China. The orders, which were placed by Datang Chifeng Saihanba Wind Power Co. Ltd, a state-owned utility and developer, include a two year maintenance and service agreement as well as VestasOnline Supervisory Control and Data Acquisition System (SCADA). The wind turbines will be supplied from Vestas' manufacturing facility in Tianjin, China.
Henrik Breum, analyst at Danske Equities says: "Vestas started production in China last year, which is necessary for being active on the market since the government requires that 70% of the wind turbines must be produced in China. So this is a direct effect of Vestas' investment in China."
Vestas' share price yesterday rose 2.2% to DKK 326 (USD 58.68), its highest level since 2001, as news broke about the orders from China.
Vestas Wind Systems is the world's leading wind turbine manufacturer. The concern is headquartered in Randers, Jutland, and employs over 12,000 people worldwide. Vestas has production facilities in Denmark, Germany, China, India, Italy, UK, Spain, Sweden, Norway and Australia, and will soon commence construction of a turbine blade factory in Colorado, USA. In 2006, Vestas Wind Systems generated revenues of DKK 28.7 bn (USD 5.1 bn). The news was reported by financial daily newspaper Børsen and on Vestas' website.