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Vestas Advances on Maintenance Contract for 121 Turbines in Iowa

Jan. 7 (Bloomberg) -- Vestas Wind Systems A/S, the biggest wind-turbine maker, rose the most in six weeks after agreeing to maintain 121 of its turbines at a wind farm in Iowa.

Vestas jumped 6.8 percent to 36.70 kroner at the close in Copenhagen, the most since Nov. 26. That’s the highest closing price since Oct. 8.

The turbine company announced the three-year contract extension for Alliant Energy Corp.’s 200-megawatt Whispering Willow Wind Farm-East power plant in a statement on its website today. The facility can power about 50,000 homes and Aarhus, Denmark-based Vestas has maintained it since it became operational in 2009.

“This service contract also ensures jobs for Vestas employees,” Chris Brown, president of Vestas’s U.S. and Canada sales and service operations, said in the statement.

Vestas cut its workforce in the U.S. and Canada last year to about 2,500 from 3,400 amid plans to reduce its total headcount to about 16,000 by the end of 2013 from 22,721 in 2011.

Alliant Energy, which owns three other projects using Vestas turbines, provides power and natural gas to more than 1.4 million customers in the U.S. Midwest, according to the statement.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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