EnergyWatch

Vestas signs Russian investment contract

The wind turbine manufacturer is injecting EUR 1.4 million in the blade factory together with the customer behind huge, Russian 1 GW orders.

Photo: RAWI

The establishment of Vestas' first factory in Russia can now formally begin. Thursday, the wind turbine manufacturer signed a special investment contract (SPIC) with the Russian Ministry of Industry and Trade and the government in Ulyanovsk regarding the construction of a blade factory, announces the Russian Association of Wind Power Industry (RAWI).

"The signing of this contract confirms the seriousness of Vestas’ intentions to take an active part in the development of the Russian wind energy market and to implement the project on the territory of the Ulyanovsk region. Our big goal is to create a strong production site and a chain of suppliers in Ulyanovsk together with our business partners," says Niels de Baar, President of Vestas in Northern and Central Europe, in the press release.

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