Vestas receives its largest single wind power order in Australia (206 MW)

The site is located approx 25 km southeast of Merredin in Western Australia. The wind energy order has been placed by Collgar Wind Farm Pty Ltd which was developed by Investec Bank (Australia) Limited and now acquired by UBS International Infrastructure Fund, managed by UBS Global Asset Management, and Australia’s Retail Employees Superannuation Trust (REST).

The 206 MW Collgar wind farm is the largest single order for Vestas in Australia. The contract comprises a full engineering procurement construction contract, a ten-year service agreement and a VestasOnline® Business SCADA solution. The first turbines are expected on site during Q2 and Q3 2010 with the whole project expected fully installed by the second half of 2012.

“We are delighted with this order for the Collgar Wind Farm. Vestas is a leading wind energy company with 30 years at the forefront of wind energy technology development and we can ensure that the requirements of the Collgar wind farm are met through our proven technology and experience. We appreciate the good relationship that has developed with Investec Australia, UBS Global Asset Management, REST and the Vestas Asia Pacific team. In the current challenging economic times, it is important that large renewable energy investments such as this project continue in Australia and that the incredible wind resources available are harnessed for sustainable carbon emission reductions,” says Sean Sutton, President of Asia Pacific.

“This project is the outcome of a process where all stakeholders have maintained focus on solutions throughout the development phase, which is essential with all large-scale investments. Vestas looks forward to working with all parties involved to ensure that this project will deliver the expected outcome in the years to come,” says Jørn Hammer, Managing Director of Vestas Australia.

The project has been financed on a limited recourse basis. The Danish Export Credit Agency (EKF) was an important factor in making this business possible as they provided a guarantee for part of the financing and under the export lending scheme, they granted a loan corresponding to the guarantee.

“Investec congratulates Vestas on the achievement of this milestone. We thank the Vestas team for their support of us on Collgar and look forward to partnering on other projects in our portfolio,” says David Clarke, CEO of Investec Bank (Australia) Limited.

“We are very pleased to be working with Vestas on this hallmark project. Vestas’ involvement was a key factor in UBS International Infrastructure Fund moving forward with the project, and we now look forward to a successful construction and commissioning of the wind farm as well as a productive long-term operating relationship with Vestas,” says Paul Moy, Chief Investment Officer of UBS International Infrastructure Fund.