Bloomberg News

Vestas, EDPR Extend Delivery Period for 1,500-Megawatt Order

November 09, 2012

Vestas Wind Systems A/S (VWS) agreed to extend by three years the delivery period for a 1,500-megawatt order received in 2010 from EDP Renovaveis SA (EDPR), the renewable energy division of Portugal’s biggest utility.

The delivery period, originally slated for 2011 and 2012, will now stretch to 2015, Aarhus, Denmark-based Vestas said today in a statement to the Copenhagen Stock Exchange. The postponement won’t affect the turbine maker’s forecast for 6.3 gigawatts of shipments in 2012, Vestas said.

“It’s a master-supply agreement, meaning they have to inform us in advance and we have to plan in advance,” Lars Villadsen, an investor relations spokesman for Vestas, said in a phone interview. “We have for some time been negotiating an extension to the delivery period, so it’s factored into the plan already.”

Villadsen said the change also won’t affect Vestas’s forecast for 5 gigawatts of shipments next year. He declined to say how much of the 1,500 megawatts has already been delivered, citing contractual confidentiality. EDPR didn’t exercise an option in the original agreement to extend the order to 2,100 megawatts, he said.

EDPR is a unit of EDP-Energias de Portugal SA, which is based in Lisbon.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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