Vestas buys US-based UpWind Solutions

7 December 2015 (Last Updated December 7th, 2015 18:30)

Danish wind turbine firm Vestas has acquired US-based independent service provider UpWind Solutions and its subsidiaries, for approximately $60m.

Danish wind turbine firm Vestas has acquired US-based independent service provider UpWind Solutions and its subsidiaries, for approximately $60m.

Based in San Diego, UpWind currently provides services to wind power facilities, totalling 3GW, in nine US states.

The wind power facilities under service constitute a diverse customer base, and comprise of turbines from multiple manufacturers.

UpWind also provides parts for major turbine technologies and carries out blade inspections. In addition, the firm offers several performance upgrades.

"The acquisition accelerates our profitable growth strategy and helps Vestas to capture the full potential of the service business."

Vestas Global Service group senior vice-president Christian Venderby said: "The acquisition accelerates our profitable growth strategy and helps Vestas to capture the full potential of the service business.

"We are broadening our capabilities and increasing the size of our addressable market for all major turbine technologies."

UpWind Solutions CEO Peter Wells said: "We’re delighted to become part of the global wind industry leader, and look forward to jointly ensuring that our expanded customer base receives the best possible operations and maintenance service for their fleets."

Vestas has around 50GW under service across the globe, while Vestas and UpWind together will service around 17GW of Vestas and non-Vestas turbines in the US and Canada.

In October this year, Google signed a share purchase agreement with Vestas for taking over a minority stake in the 310MW Lake Turkana wind farm in Kenya.

Owned by Lake Turkana Wind Power, the facility is claimed to the largest of its kind in Africa and is expected to meet 15% of the energy requirements in Kenya, based on its current generation capacity.