Vestas gets big service contract

EDP Renováveis (Euronext: EDPR) has contracted Vestas Wind Systems (OMX: VWS) for service & maintenance of over 1100 turbines with a total capacity of 1897 MW in the U.S. and Europe for up to seven years. For Vestas, which in total now has 22000 turbines or about 37.5 GW in service, the contract is the largest of its kind to date. It includes a variety of services and products involving scheduled and unscheduled maintenance and consumables with an availability guarantee. The contract communicated in afternoon trading yesterday helped the Danish turbine manufacturer avoid most of the terrible battering that cyclical stocks received yesterday.