Vestas receives its largest single order in Australia
Vestas has received an order for a total of 111 units of V90-1.8/2.0 MW turbines
for the Collgar project in Australia. The site is located approx 25 km southeast
of Merredin in Western Australia. The order has been placed by Collgar Wind Farm
Pty Ltd which was developed by Investec Bank (Australia) Limited and now
acquired by UBS International Infrastructure Fund, managed by UBS Global Asset
Management, and Australia's Retail Employees Superannuation Trust (REST). The
206 MW Collgar wind farm is the largest single order for Vestas in Australia.
The contract comprises a full engineering procurement construction contract, a
ten-year service agreement and a VestasOnline® Business SCADA solution. The
first turbines are expected on site during Q2 and Q3 2010 with the whole project
expected fully installed by the second half of 2012.
“We are delighted with this order for the Collgar Wind Farm. Vestas is a leading
wind energy company with 30 years at the forefront of wind energy technology
development and we can ensure that the requirements of the Collgar wind farm are
met through our proven technology and experience. We appreciate the good
relationship that has developed with Investec Australia, UBS Global Asset
Management, REST and the Vestas Asia Pacific team. In the current challenging
economic times, it is important that large renewable energy investments such as
this project continue in Australia and that the incredible wind resources
available are harnessed for sustainable carbon emission reductions,” says Sean
Sutton, President of Asia Pacific.
“This project is the outcome of a process where all stakeholders have maintained
focus on solutions throughout the development phase, which is essential with all
large-scale investments. Vestas looks forward to working with all parties
involved to ensure that this project will deliver the expected outcome in the
years to come,” says Jørn Hammer, Managing Director of Vestas Australia.
The project has been financed on a limited recourse basis. The Danish Export
Credit Agency (EKF) was an important factor in making this business possible as
they provided a guarantee for part of the financing and under the export lending
scheme, they granted a loan corresponding to the guarantee.
“Investec congratulates Vestas on the achievement of this milestone. We thank
the Vestas team for their support of us on Collgar and look forward to
partnering on other projects in our portfolio,” says David Clarke, CEO of
Investec Bank (Australia) Limited.
“We are very pleased to be working with Vestas on this hallmark project. Vestas'
involvement was a key factor in UBS International Infrastructure Fund moving
forward with the project, and we now look forward to a successful construction
and commissioning of the wind farm as well as a productive long-term operating
relationship with Vestas,” says Paul Moy, Chief Investment Officer of UBS
International Infrastructure Fund.
The above order does not affect the Vestas Group's expectations for 2010, ref.
company announcement No. 3/2010 of 10 February 2010.
Contact Details:
Vestas Asia Pacific, Singapore
Sean Sutton, President
Tel.: +65 6303 6553
Vestas Wind Systems A/S, Denmark
Peter W Kruse, Senior Vice President, Group Communications
Tel.: +45 9730 0000
