Vestas Wants Policy Certainty Before Finalizing Deal

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Vestas has signed an option agreement for 70 hectares of land at the Port of Sheerness in Kent, U.K., to manufacture its recently launched V164-7.0 MW offshore wind turbine but says it is seeking market and regulatory certainty before finalizing the deal.

Vestas says it is prepared to make the necessary investment in turning the option into a full lease and building the planned new production facilities – which could create more than 2,000 direct and indirect new jobs – provided the V164-7.0 MW order pipeline materializes as expected.

‘We have shown our intentions to make major investments and subsequent job creation, but it is evident that we don't just jump head first into an investment of this size,’ says Anders See-Jensen, president of Vestas Offshore. ‘We need to make sure it makes sense business-wise. Before our customers can provide us with the needed order pipeline, they need to see stability in the market and a long-term political and regulatory certainty that ensures their business case.’

In order to secure the V164-7.0 MW order pipeline, Vestas says it is seeking long-term and stable policy framework, and public investment support to de-risk and reduce the large infrastructural investments required to build a facility of these proportions.

The company plans serial production of the turbines in 2015.

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