Vestas: U.K. decision won't impact order backlog

Resource from: marketwatch Likes:186

Oct 20,2015

STOCKHOLM--Vestas Wind Systems A/S (VWS.KO), said Monday the U.K. government's decision to reject the Navitus Bay offshore wind farm project will not affect the order backlog of the Danish manufacturer of wind turbines. MHI Vestas Offshore Wind was appointed preferred supplier of the project, offshore of the south of England, earlier this year. Vestas said it can confirm that Navitus Bay Development Ltd. has said it has decided not to challenge the decision by the U.K. Energy and Climate Secretary to refuse consent for the proposed Navitus Bay project. As it was not a firm and unconditional order but a potential order the decision by Navitus Bay Development Ltd. will not have an impact on the order backlog of MHI Vestas Offshore Wind, the company said. The U.K. Energy Secretary rejected the proposed development, comprising up to 194 turbines which would have a maximum installed generating capacity of 970 megawatts, in a letter dated Sept. 11. At 0912 GMT shares traded up 2.9% at DKK374.80.

(marketwatch)

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