Vestas Wins 83-Megawatt Wind Deal in Poland

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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Danish turbine manufacturer Vestas (OTC:VWYSF) (Aarhus, Denmark) continues to boost its presence in Poland after winning an order to supply 26 turbines for the Korytnica onshore windfarm.

The company will provide its V126-3.3 turbines, rated at 3.3 megawatts (MW) each, to the 83-MW Korytnica North windfarm project, located in central Poland, about 60 kilometers (km) northeast of the capital, Warsaw. It is Vestas' third Polish win this year. The company controls about 30% of the domestic wind market.

The order includes delivery, installation and commissioning of the wind turbines as well as a 15-year active output management (AOM) 5000 service agreement. Delivery and commissioning of the turbines will take place in the fourth quarter of this year.

The project is being developed by Wind Field Korytnica, a subsidiary of GEO Renewables S.A. (Warsaw, Poland), a Polish company established with the help of private equity and the European Bank for Reconstruction & Development (EBRD) to develop renewable energy projects in the country. Korytnica North is the first phase of a larger windfarm scheme that will eventually have a capacity of as much as 239 MW.

The EBRD plans to loan the project about 55 million euros ($60.1 million) toward the total cost of more than 158 million euros ($173 million).

Poland is Europe's heaviest user of coal for electricity, relying on it for approximately 85% of all power. The government has committed to reduce emissions from greenhouse gases and established a target of 15% of electricity to be met from renewable energy sources by 2020.

"With the delivery of the first V126-3.3 MW turbines to the Korytnica North project Vestas is now taking a significant step in reducing the cost of energy for wind in Poland", said Klaus Steen Mortensen, president of Vestas Northern Europe. "The Korytnica North project will help increase the proportion of cost competitive renewable energy in Poland, and we are very pleased that Wind Field Korytnica has chosen to work with us."

Vestas has supplied 620 wind turbines over the past 12 years in Poland, with a total generating capacity of 1,272 MW.

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