TPI and Vestas Sign Wind Blade Supply Agreement for Latin America
28 April 2017 - 10:00PM
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 to provide blades from two manufacturing lines (with
option to add more lines) for the V136 wind turbine for markets in
Central and South America. The blades will be produced at a new
facility in Matamoros, Mexico, which is scheduled to open for
production in the first half of 2018. TPI’s new manufacturing hub
will be designed to be state-of-the-art and able to reliably and
cost effectively serve wind markets in Mexico, Central and South
America via land, rail and by water from the port of Brownsville,
Texas. The facility, located on a 13-hectare site, will initially
be 48,000 m2 with the ability to expand and serve multiple
customers.
“We are excited that Vestas has chosen to partner with TPI on
blade production again and in a third geography to serve the
growing Latin American wind market,” said Steve Lockard, President
and CEO of TPI Composites.
Jean-Marc Lechêne, Executive Vice President and COO of Vestas
added, “We are pleased to be expanding our relationship with TPI to
help Vestas serve Mexico, Central and South America with
high-quality, cost competitive wind blades from its world-class
facility and the first wind projects to be served will be located
in Mexico.”
TPI has produced wind blades in Mexico since 2002, and is
currently producing blades in three facilities in Ciudad
Juarez.
About TPI Composites, Inc.
TPI Composites, Inc. is the largest U.S.-based independent
manufacturer of composite wind blades for the wind energy market.
TPI delivers high-quality, cost-effective composite solutions
through long term relationships with leading wind turbine
manufacturers. TPI is headquartered in Scottsdale, Arizona and
operates factories throughout the U.S., China, Mexico, and
Turkey.
About Vestas Wind Systems A/S
Vestas is the energy industry’s global partner on wind power
solutions. Vestas designs, manufactures, installs, and services
wind turbines across the globe, and with close to 82 GW of wind
turbines in 76 countries, Vestas has installed more wind power than
anyone else. Through Vestas’ industry-leading smart data
capabilities and unparalleled more than 71 GW of wind turbines
under service, Vestas uses data to interpret, forecast, and exploit
wind resources and deliver best-in-class wind power solutions.
Together with Vestas customers, Vestas’ more than 21,800 employees
are bringing the world sustainable energy solutions to power a
bright future.
We invite you to learn more about Vestas by visiting our website
at www.vestas.com and following Vestas on our social media
channels.
- www.twitter.com/vestas
- www.linkedin.com/company/vestas
- www.facebook.com/vestas
- www.instagram.com/vestas
- www.youtube.com/vestas
Investor Contact:
investors@tpicomposites.com
480-315-8742
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