Vestas Announces 259 Megawatts of Turbine Orders in Six Nations

Vestas Plunges After Revenue Forecast Cut on Factory Delay
A Vestas Wind Systems A/S 415-foot-tall wind turbine operates at the Sacramento Municipal Utility District (SMUD) 102 megawatt wind farm in Rio Vista, California, U.S. Photographer: Ken James/Bloomberg

Vestas Wind Systems A/S, the world’s biggest wind turbine maker, received 259 megawatts of orders in six countries, according to statements on the company website.

Arise Windpower AB and Platina Partners LLP made the biggest order announced today, for 23 turbines totaling 69 megawatts in Jadraas, Sweden. Electricite de France SA made two orders totaling 62 megawatts for projects in Italy and Germany, and Vestas also won a 50-megawatt contract from Zorlu Energy Group in Pakistan, its first deal in the Asian nation.

“This milestone puts Vestas in an advantageous position to encourage and support the development of wind power in this country going forward,” Sean Sutton, president of Vestas Asia Pacific, said in the statement, referring to the Pakistani deal.

Today’s projects bring Vestas’s orders for 2011 to 6,194 megawatts, excluding unannounced deals from the fourth quarter. Short-selling of shares in Vestas rose to the highest in more than five years this week on speculation the Aarhus, Denmark-based company won’t meet its 2011 guidance for 7,000 megawatts to 8,000 megawatts of orders.

Vestas has now published details of more than 500 megawatts of orders in the last two working days of 2011, after saying yesterday it got a 254-megawatt deal with CPFL Energia SA in Brazil.

Orderbooks Due

Vestas is due to announce full-year orders data, including unannounced contracts from the final quarter, on Feb. 8. It needs at least 806 megawatts to meet guidance. Spokesman Peter Kruse said two days ago in a phone interview that Vestas expects to make the target.

The other deals announced today by Vestas are a 54-megawatt order from an unnamed client in the U.K., and a 24-megawatt order from VSB Energies Nouvelles in France.

Short sellers borrow stocks and sell them in the anticipation of profiting by repurchasing the securities later at a lower price. Short positions in Vestas reached 17.3 percent as of Dec. 27, the highest in more than five years according to figures on Bloomberg compiled by Data Explorers Inc.

Vestas today closed up 4.9 percent at 62 kroner in Copenhagen.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE