Vestas boosts its Latin American business

14 March 2012


Vestas has made a major step forward in its strategy to become a leading player in Latin America by winning a contract for the construction of the region’s largest wind farm.

The Danish wind turbine manufacturer has been awarded the turnkey contract for the construction of the 396 MW Mareña Renovables wind farm in Mexico. The project will supply energy directly to industrial consumers and will form a major part of Mexico’s efforts to reduce carbon emissions.

Under the contract, Vestas will deliver 132 of its V90-3.0 turbine, starting in the second quarter of 2012. The order is a major boost for Vestas, which earlier this year posted disappointing financial results after a challenging year in 2011.

“This is a very important milestone for Vestas, as we look to strengthen our leadership position in Latin America and globally,” said Juan Araluce, Chief Sales Officer of Vestas.

Vestas will provide the entire range of services to build the wind farm, which will be located in the Isthmus of Tehuantepec in the south-eastern region of the State of Oaxaca, in southern Mexico. The order was placed by Mareña Renovables, which is owned by Macquarie Mexican Infrastructure Fund, Mitsubishi Corporation, and PGGM, a leading Dutch pension fund service provider.

The project’s power generation will be bought by Cuauhtémoc Moctezuma, an operating company of brewing firm Heineken N.V., and subsidiaries of Fomento Económico Mexicano, S.A.B. de C.V. (Femsa) under 20-year power purchase agreements. Femsa is a leading consumer company in Latin America, and controls Coca-Cola Femsa, the largest Coca-Cola bottler in the region, and OXXO, the largest and fastest growing convenience store chain in Mexico.




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