New customer Guangdong Yueneng Wind Energy to establish first Vestas project in Mainland China’s southernmost tip in Guangdong Province.
Vestas has won a sales contract of 49.4 MW with a new customer, Guangdong Yueneng Wind Energy, using Vestas’ internationally certified V90-1.8/2.0 MW turbines. Meeting strict requirements for the reliability of the turbines and the resulting business case has been a key element in this project for obtaining financing from the European Investment Bank. The 25 turbines are expected to be installed in the southernmost tip of Mainland China, Guangdong Province (Dengloujiao) during the third quarter of 2012.
Under the political directions set by the Chinese Government under the current macro-economic circumstances, Chinese banks are lending less money. For wind power projects which require substantial capital investments, obtaining financing from outside China provides an alternative source of funding and contributes to the continuous development of wind power in the country.
However, international banking institutions have strict standards for evaluating wind turbines and the overall level of predictability on the return on investment of wind power projects. Thus, turbine manufacturers with good international reputation are preferred along with wind turbines that have international certification. Vestas’ 30 years of industry experience and its certified turbines have given Guangdong Yueneng an obvious choice. The V90 has previously been selected for several other projects along China’s south-eastern coast line, including Gaopai on Hainan Island as well as Qiulu in Fujian. As such, the V90 is a well-recognised turbine model by developers in the region.
Vestas China President Jens Tommerup says, “Chinese companies are now more aware of the necessity of partnering with an experienced international partner in their efforts to become more international. This project is a perfect example of how Vestas’ local knowledge and global footprint can provide a strong business case while also enabling a local player to receive financing from an international investment bank. Apart from being able to offer a bankable business case, Vestas has a presence in the industry of more than 30 years and in 69 countries, which is giving our Chinese customers a strong platform for internationalisation.”
Apart from the V90 turbines, Vestas’ product portfolio consists of V52, V60, V80, V100 and V112 turbines.
The Dengloujiao order includes the supply of wind turbines, installation supervision and commissioning, a Vestas Online® SCADA system and a two-year service and maintenance agreement. Delivery is scheduled to take place in the third quarter of 2012.
About Vestas
Vestas is the world leader in wind technology, with a history of technological innovation and over 30 years of experience in developing, manufacturing, installing and maintaining intelligent, high performing and high quality wind power plant solutions. Vestas was a pioneer in the wind industry and started to manufacture wind turbines in 1979.
Vestas installed China’s first wind turbines in Shandong in 1986, and as of 31 December 2011, Vestas has installed more than 3,400 MW of clean energy across 13 provinces in China. This makes Vestas one of the biggest accumulated suppliers of wind power plants in China.
Over the past 25 years, Vestas has established a firmly rooted presence in China with more than RMB 3.5 billion worth of investments and more than 3,100 employees, committed to delivering high quality wind energy solutions for a sustainable energy future.
Vestas has its largest integrated manufacturing complex globally situated in Tianjin, its China headquarters in Beijing, a factory in Hohhot, a global procurement office in Shanghai and a state-of-the-art foundry in Xuzhou.
Furthermore, Vestas has a Technology R&D Centre in Beijing, which is an important part of Vestas’ global innovation network and represents Vestas’ intention to bring the best of its knowledge to China. Furthermore, the R&D Centre is significantly increasing Vestas’ responsiveness to market demands and development trends in terms of new technology.
As the global leader in wind energy, Vestas is committed to helping develop China’s wind energy sector into a world-class modern renewable energy sector. Vestas is actively sharing its 30 years of industry experience and expertise with partners and stakeholders in the Chinese wind energy industry.
