Vestas EDF Energies Nouvelles frame agreement, two other deals

Vestas Wind Systems (OMX:VWS) gave the entire Copenhagen stock exchance OMX Nordic 40 and VINX Benchmark a boost on Friday by gaining over 7% after announcing a major frame agreement with EDF Energies Nouvelles. Under the agreement EDF will purchase a minimum of 50% of its Europe newbuilds and 30% of its US onshore installation from Vestas in between 2012 and 2014. Vestas already announced 80 MW order within the framework in connection with the communique of the ”wallet agreement”.

The company has also received unconditional deal from Rio Grande du Norte, Brazil. The customer is Atlantic Energias Renováveis S.A, which will order 30 pieces of two MW turbines totalling for a 60 MW order. And finally, when it rains it pours so Vestas also gained a 29 MW turnkey order from REM Generación Electrica Mexicana in Mexico. As of late Vestas, traditionally the largest player in wind energy, has been losing market share to new entrants and despite this small recovery, is still down heavily for the year.