July 21, 2010 / 8:38 PM / 9 years ago

Vestas wins record 570 MW California turbine order

COPENHAGEN (Reuters) - Danish wind turbine manufacturer Vestas has won a record order for a single site for 190 turbines with a total capacity of 570 megawatts for a California project, the company said on Wednesday.

“When completed, it will be the largest wind farm we will have supplied turbines to in our 31-year history as well as the biggest in California,” Martha Wyrsch, President of Vestas Americas, said in a statement.

In line with its regular practice, Vestas did not disclose financial details of the order, which came from Alta Wind Holdings, a wholly-owned subsidiary of Terra-Gen Power LLC.

Terra-Gen said earlier on Wednesday it sealed a $1.2 billion financing deal for four wind power projects at its Alta Wind Energy Center in Kern County, California.

The order follows Vestas’ all-time biggest order in April of turbines totaling 1,500 MW from Portugal’s EDP Renovaveis and an option for a further 600 MW, a deal which lifted Vestas’ shares sharply.

Those turbines are destined for various projects in North America, South America and Europe in 2011-2012, not for a single wind farm.

The California order is for Vestas’ V90-3.0 MW turbine, Vestas Wind Systems A/S said in the statement.

“Terra-Gen’s V90-3.0 MW purchase is Vestas’ largest order for a single site,” Vestas said.

The contract includes delivery and commissioning and a five-year service and maintenance agreement, Vestas said.

“Delivery is scheduled for late 2010,” it said. The first 50 turbines will be commissioned by the end of 2010 and the rest in the first half of 2011, it added.

The California order does not affect the Vestas’ 2010 outlook, Vestas said.

Terra-Gen said separately that the financing of Alta Projects II-V is structured as a leveraged lease whereby Citibank has committed to purchase the projects at the start of commercial operations and lease them back to Terra-Gen.

Reporting by John Acher; Editing by Tim Dobbyn

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