Vestas wins record order from EDPR
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.
Related News
Quebec and other provinces heading toward electricity shortage: report
MONTREAL - Quebec and other provinces in central and eastern Canada are heading toward a significant shortage of electricity to respond to the various needs of a transition to renewable energy.
This is according to Polytechnique Montréal’s Institut de l’énergie Trottier, which published a report titled A Strategic Perspective on Electricity in Central and Eastern Canada last week.
The white paper says that at the current rate, most provinces will be incapable of meeting the electricity needs created by the increase in the number of electric vehicles and the decarbonization of building heating by 2030. “The situation worsens if we consider carbon…
