Vestas Q2 profits disappoint, so large Mexican deal is a welcome tonic – The Post

Vestas Q2 profits disappoint, so large Mexican deal is a welcome tonic

Global energy company announces decrease in earnings compared to last year

When up and running, the Mexican project could soon blow the financial blues away (photo: LutzBruno)
August 17th, 2017 5:22 pm| by Stephen Gadd
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Energy giant Vestas has announced a 14 percent decrease in revenue compared to the same period last year.

Over the second quarter of 2017, Vestas only made 2.2 billion euros (16.3 billion kroner). The net result also fell by a third to 186 million euros (1.38 billion kroner).

READ ALSO: Vestas has wind in its sails and the plaudits come blowing in

All eyes on Mexico
However, today’s news that the Mexican energy firm Zuma Energía has placed a firm order for the construction of the Parque Eólico Reynosa project in the northeastern state of Tamaulipas, Mexico – one of the largest wind power projects in Latin America  – should steady the ship somewhat.

The order includes the supply and installation of the wind turbines as well as a 15-year service contract.

Delivery of the wind turbines is expected to begin late in 2017, with the commissioning expected in 2018.

“Mexico is undergoing a historic moment in its energy policy and we are extremely pleased to play an active role in this process,” said Adrián Katzew, the CEO of Zuma Energía.

“By building Mexico’s largest wind park with Vestas’ turbines we are taking a bold step in the country’s transition towards renewables.”