Vestas says it has determined that 376 gearboxes delivered to the company between June 2009 and September 2011 for its V90-3.0 MW wind turbines may need additional maintenance, repair or replacement due to malfunctioning bearings.
As a result, Vestas required additional provisions of 40 million euros in the quarter. The company says it will pursue all relevant actions with regard to potential compensation from the suppliers.
Due to the additional provisions made for the V90-3.0 MW gearboxes, warranty provisions for the year are now expected to be around 3% of the expected full-year revenue, against the previous guidance of less than 3% of full-year revenue, the company says.
Vestas also notes that it is continuing the development of its 7 MW offshore wind platform, the V164-7.0 MW turbine. However, in order to align the expected serial production date with Vestas' current offshore market outlook, the company has reduced the pace of development. The prototype is now expected to be installed in Denmark in 2014.
Vestas has received inquiries from potential partners on the further development of the V164-7.0 MW turbine, the company adds.
Vestas reported the news in a statement on its latest financial results.
