Wednesday, December 21, 2005

Vestas Wins US Wind Turbine Order,

Vestas Wins US Wind Turbine Order, Share Up


COPENHAGEN - Denmark's Vestas Wind Systems said on Tuesday it had won its biggest order in the United States with a contract with Horizon Wind Energy, sending its shares higher.
Vestas said in a statement it would deliver turbines with a capacity of 600 megawatts with an option for a further 200 megawatts.

By 0816 GMT Vestas shares were 5.2 percent higher at 95.50 crowns, outperforming the Copenhagen bourse's top-20 OMXC-index , which was 0.1 percent up.

Vestas will supply and commission the wind turbines, and the order also includes a five-year maintenance and service agreement.

Shipment of the turbines will commence in June 2006 and will continue until late 2008, with all turbines being commissioned before the end of 2008.

Last month, Vestas shares dropped more than 25 percent after the company warned of a surprise 2005 loss due to component shortage and low-margin orders in the US

The order does not affect Vestas's expectations for 2005 and 2006.

Story Date: 21/12/2005