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Vestas says Mexican wind farm project delayed further 

Credit:  By Stephan Nielsen | Bloomberg | 2013-12-04 | www.bloomberg.com ~~

Vestas Wind Systems A/S (VWS), the world’s biggest turbine maker, said the 396-megawatt Marena Renovables project in Mexico has been delayed further.

“Vestas can confirm that it has agreed to extend the forbearance agreement from Nov. 30 to Feb. 28 subject to the fulfillment of certain conditions,” the Aarhus, Denmark-based company said today in a statement. Under the deal, Vestas will waive its rights to claim damages for the delay, a spokesman who asked not to be identified by name in line with company policy, said today by phone.

Opposition groups barring access to the site have caused “significant” construction delays and affected the value of the project, a Macquarie Group Ltd. fund that owns 32.5 percent of the venture behind the project, said yesterday in a filing with the Mexican stock exchange.

Vestas agreed to supply the wind turbines in March 2012 for the project that’s located in the southern La Ventosa region of Oaxaca state. Locals have been mounting protests since at least May last year, according to Yayoi Sekine, a Sao Paulo-based analyst at Bloomberg New Energy Finance.

Source:  By Stephan Nielsen | Bloomberg | 2013-12-04 | www.bloomberg.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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