EnergyWatch

Vestas enters joint venture with major project developer

Danish wind turbine manufacturer is spending millions on a collaboration with one of the world's largest developers to build wind farms in the US. We will not repeat the mistakes of the past, says the CFO.

Photo: Vestas

Vestas is no longer content simply selling wind turbines to American projects. Going forward, the Danish wind turbine manufacturer will be involved in constructing the farms, prompting a collaboration with one of the world's largest project developers, the British RES group.

Through its subsidiary Steelhead Wind 1, Vestas and RES Americas entered equally into joint venture Roaring Fork Wind on December 22 last year. Vestas has also preliminarily invested EUR 65 million in the joint venture.  In addition, the wind turbine manufacturer has pledged to contribute approximately EUR 22 million as development investment dependent on future events.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vattenfall secures public funding for hydrogen venture in the UK

By producing hydrogen directly from turbines, the utility wants to reduce energy loss and save money. The company has just received state subsidies to develop the first turbine of this kind in the UK, providing a much more efficient solution than other alternatives, says CEO Anna Borg.

Further reading

Related articles

Latest News

See all jobs