28.1.2003: Meldung: Orders for 117 Vestas wind turbines in Egypt

Vestas Wind Systems A/S has via its 100% owned subsidiaries, Vestas - International Wind Technology A/S and Vestas Deutschland GmbH, received two orders for a total supply of 117 units of the V47-660 kW turbines to the Zafarana Wind Farm located approximately 200 km South East of Cairo at the Red Sea. The two orders are placed by The New and Renewable Energy Authority (NREA), which is the Egyptian state"s governmental body specialised in renewable energy. The order to Vestas - International Wind Technology A/S has a value of close to mEUR 25 and is financed by mixed credits from Danida. The order to Vestas Deutschland GmbH has a value of around mEUR 40 and is financed by mixed credits from kfW. This order is part of a turnkey contract to a consortium consisting of Vestas Deutschland GmbH, ABB New Ventures GmbH and Egyptian based Kolaly Engineering. "We are very pleased that Vestas has now received the first large contracts in Egypt", says Svend Sigaard, Managing Director of Vestas Wind Systems A/S and adds; "Egypt has good wind conditions and a long term potential for wind power so it is very important for the future development of this new market that these first projects are successful". The above mentioned orders do not influence the Vestas Group"s expectations for year 2003, cf. Stock Exchange announcement no. 18/2002 of 26 November 2002.

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