HSH Nordbank to Finance Brotorp Wind Farm
HSH Nordbank will provide the investor BlackRock with a long-term loan amounting to about € 31 million to refinance the Brotorp wind farm in southern Sweden. The farm with 14 Vestas 126 type wind turbines and a total capacity of 46.2 megawatts (MW) has been in operation since December 2015. With US$ 6.29 trillion in assets under management (as of 31/12/2017), BlackRock is the world's largest independent asset manager. HSH Nordbank has previously already completed numerous transactions in the photovoltaics business with this investor.
Offshore Wind Majors Sign Turbine Test-bed Agreement
Dong Energy advances its involvement in Vestas’ prototype testing of the V164-8MW turbine in Østerild, Denmark. Dong Energy and Vestas Wind Systems have entered into a cooperation agreement on the testing of Vestas' V164-8.0 MW wind turbine at Test Centre Østerild in Denmark. Through this agreement, Dong Energy becomes involved earlier in Vestas´ development of the V164-8.0 MW offshore wind turbine than previously envisaged. This ensures Dong Energy a detailed understanding of and experience with Vestas’ new offshore wind turbine at an early stage. Vestas expects that the first turbine will be installed and commissioned at Test Centre Østerild during the second quarter of 2014.
Turbine Maker Vestas to pay Dividend
Analysts disappointed by 2015 financial targets; shares fall over 6 percent. Danish wind turbine maker Vestas proposed its first dividend payment in 12 years after beating fourth-quarter profit forecasts, though its shares fell on what analysts described as conservative targets for 2015. The dividend payment is a sign Vestas Wind Systems has finally turned the corner after a tough few years during which it slashed jobs and costs as faltering economies and cutbacks in government subsidies hit demand for its turbines. Vestas proposed a dividend of 3.90 Danish crowns per share, equivalent to 29.5 percent of 2014 net profits, just below the 0.52 euros or 4 crowns expected by analysts in a Reuters poll.
MHI & Vestas Join Hands in Offshore Wind Turbine Business
Mitsubishi Heavy Industries, Ltd. (MHI) has agreed with Vestas Wind Systems A/S (Vestas), a leading manufacturer of wind power generation systems based in Denmark, to establish a new joint-venture company (J/V). Plans call for the arrangement to be in place before the end of March 2014. The new J/V will be launched taking over and consolidating MHI's and Vestas' current operations in offshore wind turbines. From a head office to be located in Aarhus, Denmark, the company will handle all aspects from development, design, procurement and manufacturing to marketing and after-sale servicing.
Vestas Develops Replacement for Damaged Offshore Wind Turbines
Danish wind turbine manufacturer Vestas Wind Systems AS is developing a new offshore wind turbine model following recent gear box problems at several of its currently operating turbines, Swedish magazine Ny Teknik said. At the same time, Vestas and Swedish subcontractor SKF AB are trying to determine the causes of the damage to gear boxes, which recently induced the Danish group to stop sales of the V90 3 MW windmill for offshore installations. [Source: Thomson Financial]
GL Renewables Certification Updates Type Certification for Vestas' V52 Turbine
Vestas Wind Systems has received an update of the type certificate for its V52-850 kW wind turbine from GL Renewables Certification (GL). Vestas Wind Systems expanded its manufacturing portfolio for the V52 wind turbine to its hubs in China. The type certificate has been updated and now includes production of this wind turbine type in Vestas' new manufacturing facilities in China. The Type Certificate confirms that the V52 wind turbine complies with the requirements of the International Standard regarding design, power quality and verification of the load assumptions.
Huge Offshore Turbine Blades Arrive at Test Center
Manufacturers Vestas have sent three 80-meter blades for what they describe as the world's most powerful offshore wind turbine, Vestas V164-8, to the Danish National Test Center for large wind turbines in Østerild. The arrival of the blades means that all essential parts for giant turbine now in place at the test center, and the unit is expected to deliver its first power in early 2014. The blades were manufactured in the Isle of Wight, England, and were sent by ship to Bergen and beyond with special transport to Østerild.
Vestas Profit Beats Forecast
Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling its turnaround from the brink of collapse has taken hold. Its shares opened up more than 5 percent on Wednesday, touching a two-month high of 290 Danish crowns, and were trading 2.7 percent higher at 282.6 crowns by 0715 GMT. Vestas said earnings before special items jumped to 104 million euros ($138 million) from 12 million a year ago, compared to analysts' expectations of 63 million.
Fastest Sailboat on the Planet – 'Vestas Sailrocket 2'
The speed sailing boat smashes the current record in Walvis Bay, off the coast of Namibia. The new world record of 59.23 knots (109kph) set the best average time over 500m and broke the previous mark of 55.65 knots with a peak speed of 63 knots (119kph). Two days later the team improved this speed with a 59.38 knot run which peaked at exactly 120kph (64.78 knots). During the same run the team also smashed the nautical mile world record* with an average of over 55 knots. The ink was barely dry on the first record.
Vestas Sells Wind Turbine Tower Plant
Titan Wind Energy (Suzhou) Co., Ltd. is China’s largest global manufacturer of wind turbine towers and already a long standing supplier to leading turbine manufacturers including Vestas. The acquisition of the towers factory in Varde will establish Titan Wind Energy’s global manufacturing footprint in Europe, while also maintaining a vast majority of the approximately 120 jobs at the factory in Varde. • About 120 highly specialised ”greentech” jobs are maintained in Varde, Denmark. • The facility in Varde is ideally positioned to support the further globalisation of Titan Wind Energy’s operations. Going forward, both Titan Wind Energy and Vestas say they see a huge potential in the continued cooperation.
Wind Turbine Maker Vestas Turns Q1 2014 Profit
Danish wind turbine maker Vestas surprised the market on Friday by returning to profit in the first quarter due to improved margins, higher revenue and lower fixed capacity costs, sending its shares up 7 percent. Operating profit before special items amounted to 40 million euros ($55.45 million) in the quarter from a loss of 108 million euros a year ago. Analysts polled by Reuters had on average expected a 29.9 million euros loss. Vestas has shed more than 5,000 jobs, closed plants…
Offshore Wind Turbines for MHI Vestas Offshore
MHI Vestas Offshore Wind A/S, a JV between Mitsubishi Heavy Industries, Ltd. (MHI) and Vestas Wind Systems A/S, has reached a conditional agreement with Skovgaard Invest ApS and Energicenter Nord for the purchase of four V164-8.0 MW offshore wind turbines for the Velling Mærsk project in Western Denmark. The agreement allows for phase two (0-series) of development for the world’s most powerful offshore wind turbine to commence. The Velling Mærsk project will use the 0-series of the V164-8.0 MW…
Vestas Inks Swedish 122 MW Wind Deal
Danish wind turbine manufacturer Vestas Wind Systems said on Friday it had received a 122 megawatt turbine order for a wind project in Sweden. The order was for 37 units of the V117-3.3 MW turbine for the Sorby Wind Farm project in Ljusdal, Vestas said in a stock exchange announcement. Reporting by Teis Jensen
New Wind Farm Service Vessel for ESVAGT
A 15-year contract will see a new ESVAGT service operation vessel (SOV) support MHI Vestas Offshore Wind in the Deutsche Bucht (DeBu) Wind Farm project. ESVAGT will deliver the SOV for MHI Vestas in August 2019. The new contract is not only the longest in ESVAGT’s history, but it is also the largest in terms of value. “This contract builds on the strong relationship we have had with MHI Vestas since 2010,” said ESVAGT A/S Chief Executive Officer, Søren Nørgaard Thomsen. MHI Vestas and ESVAGT have collaborated on the Belwind 1 and Nobelwind 1 offshore wind farm projects in Belgium since 2010…
DNV GL Lends Support to Walney 3 Offshore Wind Project
DNV GL has secured a role as technical advisor to a group of institutional lenders with their investment of the 659MW Walney Extension. Located off the coast of North West England at Barrow-in-Furness, the Walney Extension offshore wind farm will bring a mix of wind turbine types, featuring 40 MHI Vestas V164 and 47 Siemens SWT-7.0-154 turbines. DNV GL conducted a detailed technical due diligence study and full independent energy production assessment, allowing the group of lenders to develop an understanding of the technical characteristics and risk profile.
Semi-submersible Wind Turbine Project Seeks EU Funding
According to a 'Recharge' report, the trial-run WindFloat 1 (WF1) has flowed more than 1.7GWh of energy since being moored in the Atlantic in 43 metres of water, 5km off Aguçadoura, near Póvoa de Varzim, northern Portugal, last autumn. The 1,200-tonne floating concept, fitted with a single Vestas V80-2.0MW turbine, rode out storms that buffeted it with gale-force winds and waves of up to 15 metres during its first winter offshore. The €20m ($25m) WF1 was built by the WindPlus joint venture, which counts EDP , Principle Power , Vestas , Portuguese shipbuilder A Silva Matos (ASM), venture capitalist InovCapital and Spain’s Repsol among its shareholders. The floater is seen as a game-changer both in terms of technology and supply-chain management.
European Offshore Wind Faces Make-or-break 2020 -Report
Wind power companies such as Vestas, Siemens and Dong need Europe's installed offshore capacity to more than double and costs to be cut by a fifth within five years to compete with other fuels, an industry report said on Tuesday. The Ernst & Young report described 2020 as a make-or-break year for the offshore wind power industry, which must install more than 20 gigawatts (GW) of capacity generating electricty for about 100 euros ($107) per megawatt-hour (MWh), against 140 euros now. "Failure to meet both these criteria will not see the offshore wind industry advance into 2030 and beyond," said the report issued on the first day of Europe's largest offshore wind conference in Copenhagen.
DNV GL Advised Partners Group on Offshore Wind Project
DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed a comprehensive due diligence project on the 730 MW Borssele III/IV construction-ready offshore wind project in the Netherlands. The work was commissioned by Partners Group, the global private markets investment manager, in preparation for its successful bid to acquire a 45% stake in the project on behalf of its clients. The investment will make funds managed and/or advised by Partners Group the largest shareholder in the Borssele III/IV farm.
Shell Bids for Dutch Offshore Wind Farm
Royal Dutch Shell is participating in a consortium bidding in a Dutch government tender to build two 350 megawatt wind farms off the Netherlands' southern coast. Shell, bidding together with energy company Eneco and contractor Van Oord NV, will use turbines built by Vestas if its bid is successful, the companies said in a joint statement. (Reporting by Toby Sterling; editing by Susan Thomas)
OW Bunker Expands Supply Capacity With Terminal Agreements
OW Bunker announced that it has entered into agreements with the Rubis Tank Terminal in Rotterdam and the Vesta Tank Terminal in Antwerp, to allow for increased access and guaranteed supply at key bunkering ports. The investment in direct supply facilities comes in response to increasing demand for RMK 1 percent 500 cst fuel oil, a cost-efficient low sulphur fuel, which offers savings for operators transiting within the European ECA. OW Bunker Netherlands' exclusive contract with the 72,000-cubic-meter Rubis Tank Terminal in Rotterdam will support the supply of all grades of marine fuel on both spot and contract basis, and will guarantee supply of RMK 1 percent 500 cst fuel oil.
First Portuguese Offshore Wind Turbine
Portugal's first offshore wind turbine inaugurated by Energias de Portugal, Repsol, Principle Power, A. The turbine is installed on an innovative floating foundation called the WindFloat. In addition to being the first offshore wind turbine in Portugal, this is the first offshore wind turbine to be installed without the use of any heavy lift vessels or piling equipment at sea. All final assembly, installation and pre-commissioning of the turbine and substructure took place on land in a controlled environment. The complete system was then wet-towed offshore using simple tug vessels. The WindFloat is equipped with a Vestas v80 2.0MW turbine capable of producing enough electricity for 1,300 households.
Offshore Wind Farm Contract for Van Oord
The wind farm will be built 23 km off the coast of Zandvoort, The Netherlands. The contract, which amounts to some EUR 250 million, is expected to be signed in the autumn of this year. The wind farm will consist of 43 Vestas V112 wind turbines. With 129 Mw power it will provide green energy to 135.000 households in 2015. The construction of Eneco Luchterduinen will start in July 2014. The wind farm will be operational in the second half of 2015. As EPC contractor Van Oord will be responsible for the engineering, procurement and installation of foundations, the complete electrical infrastructure including the offshore high voltage station and installation of the wind turbines. Aeolus, Van Oord's offshore wind turbine transport and installation vessel, will be deployed.
Gamesa Turns to Profit in 2013
Reuters - Spanish wind turbine maker Gamesa posted on Thursday a 45 million euro ($61.50 million) profit in 2013, after making losses in the same period a year earlier when it booked writedowns for stalling demand and staff layoffs. Gamesa, whose main European competitor is Denmark's Vestas Wind Systems, said recurring earnings before interest and taxes (EBIT) climbed 175 percent to 129 million euros in 2013 from a year ago. The company sold 1,953 megawatts of wind turbine capacity in 2013, in line with its target, and said it expected to sell between 2,200 and 2,400 megawatts of capacity this year. ($1 = 0.7317 euros) (Reporting by Andres Gonzalez; Writing by Tracy Rucinski; Editing by Fiona Ortiz)