Coal, Gas, Wind

Vestas orders down, company may cut jobs

13 February 2009 – According to the Rocky Mountain news, Vestas might reduce jobs and cut capital spending in the United States unless orders increase.

The company said orders in the U.S. came to a standstill after the economic downturn made credit harder to get for wind energy developers.

The slump in U.S. orders left Vestas with a backlog of $6.69 billion, about 75 percent of this year’s sales target of $7.2 billion, the newspaper reported.

The company’s 2009 capital spending of more than $1.5 billion, including its planned expansion of manufacturing plants in Colorado, could be trimmed. The company declined to say which projects might be scaled back or cut.

In Colorado, Vestas is building a $290 million wind-turbine complex and a factory that will construct towers that support its turbines. The company has an existing wind blade manufacturing plant in the state.

Vestas also has pulled other wind-power companies to Colorado. In June, Siemens Energy said it would establish its U.S. wind turbine research center in Boulder.

Stories of interest:

Vestas expands its Colorado wind manufacturing base