Vestas Scores in Ireland and Australia

Randers, Denmark - Vestas, the Danish manufacturer of wind turbines has secured a 47 MW wind energy project in Northern Ireland. The client is ERG, one of the leading wind energy operators on the European market. Vestas will supply 13 wind turbines of the type V112-3.45 MW turbines in 3.6 megawatt (MW) operating mode.

The project will be equipped with a SCADA solution from VestasOnline Business, which will reduce turbine downtime and thus optimise energy yield. In addition to the delivery, installation and commissioning of the wind turbines, the order also includes a 10-year service contract. Turbine deliveries are expected to commence in the second quarter of 2021, while commissioning is scheduled for the second and third quarters of 2021.

In Australia, Vestas has signed a long-term service contract with the independent power producer (IPP) Nexif Energy for the maintenance of the first stage of the 126 MW of the 212 MW Lincoln Gap wind farm. In order to maximise the project's energy production, Vestas is to equip the 35 M140 3.6 MW turbines of WTG manufacturer Senvion with Active Output Management 5000 (AOM 5000). Delivery is to start immediately. Vestas is also responsible for the maintenance of the substation and all high-voltage equipment in the plant. The Lincoln Gap contract is an addition to Vestas' existing portfolio of 107 MW Senvion turbines in Australia under long-term, comprehensive service contracts. According to Vestas, the order brings the total capacity of Vestas serviced Senvion turbines in Australia to over 230 MW.

Like all other RENIXX stocks, Vestas shares were unable to escape the downward trend caused by the Corona crisis in recent weeks. After a minus of 10.4 percent last week to a closing price of 68.0 euros, Vestas has so far gained 9 percent this week to 74.14 Euros (March 25, 2020, 13:26, Stuttgart Stock Exchange). Over the year as a whole, this means that since the beginning of 2020, the share has currently lost 18.5 percent.

Source: IWR Online, 25 Mar 2020