Vestas wins record order from EDPR
DENMARK - Denmarks Vestas, the worlds biggest wind turbine maker, said it had won its largest order ever, sending its shares soaring.
Vestas said in a statement the deal with Portuguese wind power firm EDP Renovaveis was for turbines with a capacity of 1,500 megawatts MW, and the agreement included an option for a further 600 MW.
Vestas said the turbines were to be delivered to North America, South America and Europe in 2011 and 2012 with the additional 600 MW exercisable in 2010 and 2011.
The company did not disclose financial details.
Henrik Aagaard, a trader at Jyske Bank, estimated the order value at around 1 billion euros US $1.33 billion. This reestablishes some of the confidence in Vestas that maybe hasnt really been there entirely. So this is great, he said.
Shares in Vestas rose as much as 11.5 percent after the news to trade up 11.4 percent at 378.60 Danish crowns.
This is incredibly positive. We recommend to buy Vestas, Nordea said in a note to clients.
Meanwhile, EDPR shares fell 4.2 percent to 5.12 euros.
Vestas said the order does not affect its financial guidance for 2010.
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