Back to top
Reported by TPI Composites on 11 January 2019

TPI to Open New Wind Blade Manufacturing Hub in India and Signs Blade Supply Agreement with Vestas

Wind Blade Manufacturing Facility in Ciudad Juarez, Mexico (Courtesy of TPI Composites, Inc.)

TPI Composites, Inc., (TPI) (Nasdaq: TPIC), the largest U.S.-based independent manufacturer of composite wind blades, announced today that it has signed a multiyear supply agreement with Vestas Wind Systems A/S (Vestas) to provide blades from four manufacturing lines (with an option to add more lines) for India and export markets. The blades will be produced at a new Indian facility in the greater Chennai region which TPI plans to open for production in the first quarter of 2020. TPI’s new state-of-the-art manufacturing hub will be able to reliably and cost-effectively serve the India and global wind markets for multiple customers.

“We are pleased to announce a significant new global wind blade manufacturing hub in India with Vestas as our first customer,” said Steve Lockard, President and CEO of TPI.

Jean-Marc Lechêne, Executive Vice President and COO of Vestas added, “We are pleased to be strengthening our global manufacturing footprint with our partner, TPI, to provide the wind energy market with high-quality, cost competitive wind blades. This supply agreement also underlines our commitment to the Indian renewable energy industry through continued investment and job creation with the goal of building up India as a global manufacturing hub.”

TPI currently produces blades for Vestas in China, Turkey and Mexico.

References

[1]

TPI Composites, Inc. Press release - TPI to Open New Wind Blade Manufacturing Hub in India and Signs Blade Supply Agreement with Vestas. URL: http://www.tpicomposites.com/English/newsroom/press-releases/press-release-detai.... [Date Accessed: 11/01/2019].

Business & Finance

16 Jan | Enel sells 540 MW of renewable capacity in Brazil for 700 million euros

  • Agreement signed with Chinese company CGNEI to sell 100% of solar plants Nova Olinda (292 MW) and Lapa (158 MW) as well as the 90 MW Cristalândia wind farm
  • The transaction is aimed at freeing up resources that can finance Enel’s further renewable development in Brazil, while the company will continue O&M activities on the assets sold
  • Closing of the deal expected by 1Q 2019

Business & Finance

03 Jan | WFW advises on financing of 50 MW Uruguayan wind park

Watson Farley & Williams (“WFW”) advised Banco Santander, S.A. and Banco Santander S.A. (Uruguay) on the project financing of the 50MW “Estrallada” wind park, in Cerro Largo, Uruguay, operational since 2015. The deal closed on 14 December 2018.

Business & Finance

14 Dec | Enel Green Power steps out of Uruguay through sale of 50 MW wind farm for 120 million US dollars

  • EGP closed the sale to Atlantica Yield of Enel Green Power Uruguay S.A., 100% owner of the Melowind plant
  • The transaction is part of Enel’s active portfolio management strategy, rotating assets to finance growth in strategic areas

Business & Finance

10 Dec | Elecnor is to build the 10-MW Vientos Patagónicos wind farm in southern Chile

The Vientos Patagónicos wind farm will entail a total investment of approximately USD 22 million by the Vientos Patagónicos SpA power company