TPI to Open New Wind Blade Manufacturing Hub in India and Signs Blade Supply Agreement with Vestas
January 11 2019 - 6:00AM
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 (Vestas) to provide blades from four manufacturing
lines (with an option to add more lines) for India and export
markets. The blades will be produced at a new Indian facility in
the greater Chennai region which TPI plans to open for production
in the first quarter of 2020. TPI’s new state-of-the-art
manufacturing hub will be able to reliably and cost-effectively
serve the India and global wind markets for multiple customers.
“We are pleased to announce a significant new global wind blade
manufacturing hub in India with Vestas as our first customer,” said
Steve Lockard, President and CEO of TPI.
Jean-Marc Lechêne, Executive Vice President and COO of Vestas
added, “We are pleased to be strengthening our global manufacturing
footprint with our partner, TPI, to provide the wind energy market
with high-quality, cost competitive wind blades. This supply
agreement also underlines our commitment to the Indian renewable
energy industry through continued investment and job creation with
the goal of building up India as a global manufacturing hub.”
TPI currently produces blades for Vestas in China, Turkey and
Mexico.
About TPI Composites, Inc.
TPI Composites, Inc. is the only independent manufacturer of
composite wind blades for the wind energy market with a global
manufacturing footprint. TPI delivers high-quality, cost-effective
composite solutions through long-term relationships with leading
OEMs in the wind and transportation markets. TPI is headquartered
in Scottsdale, Arizona and operates factories throughout the U.S.,
China, Mexico, and Turkey.
Investor Contact: investors@tpicomposites.com 480-315-8742
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
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