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.