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Vestas acquires UpWind Solutions for $60m

CTBR Staff Writer Published 08 December 2015

Vestas has acquired UpWind Solutions and its subsidiaries in a $60m deal.

Based in San Diego, California, US, UpWind Solutions provides operations & maintenance services to wind power facilities., The company currently emplys around 310 people.

Currently, UpWind services wind power plants in nine US states with a total capacity of over 3 GW.

The wind power facilities under service constitute a diverse customer base, and comprise of turbines from multiple manufacturers.

UpWind also provides parts for major turbine technologies and carries out blade inspections. In addition, the firm offers several performance upgrades.

Vestas global service group senior vice-president Christian Venderby said: "The acquisition accelerates our profitable growth strategy and helps Vestas to capture the full potential of the service business.

"We are broadening our capabilities and increasing the size of our addressable market for all major turbine technologies."

UpWind Solutions CEO Peter Wells said: "We're delighted to become part of the global wind industry leader, and look forward to jointly ensuring that our expanded customer base receives the best possible operations and maintenance service for their fleets."

Vestas has over 50GW under service across the globe, while Vestas and UpWind together will service around 17GW of Vestas and non-Vestas turbines in the US and Canada.

Vestas has recently secured turbine supply contracts for wind projects in Germany and the US.

Under the contract with German customer VR Energieprojekte Dötlinge, Vestas will supply 11 units of its V126-3.3 MW turbines for a community wind power plant in Lower Saxony, Germany.

The contract from EDF Renewable Energy will require Vestas to supply and commission 51 V100-2.0 MW and 30 V117-3.3 MW turbines in the US.