Bloomberg News

The Switch Wins 100 Million Euros of Deals From Prokon and China

June 19, 2013

The Switch Drive Systems Oy, a Finnish supplier of generators, won more than 100 million euros ($134 million) of orders from German wind-farm operator Prokon Group and customers in China.

Prokon on June 17 agreed to buy 100 3-megawatt direct-drive permanent magnet generators and full-power converters, The Switch said in a statement. Combined with “significant” sales in China, the Vantaa-based company said orders in June totaled more than 100 million euros, creating a record backlog.

The orders may signal a revival in the wind-power market, the company said. Global investment in the industry dropped 13 percent to $78.3 billion in 2012, partly as a result of falling costs, according to Bloomberg New Energy Finance data.

“These orders show growing confidence again in wind power in all parts of the world,” The Switch Chief Executive Officer Jukka-Pekka Makinen said in the statement. It’s “a good sign that Europe is regaining its belief in wind and other renewables.”

Lisa Kettman-Kervinen, a spokeswoman for The Switch, declined to name the Chinese customers or state the value of the Prokon order alone, citing client confidentiality.

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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