TPI inks LatAm blade supply deal with Vestas

TPI Composites Inc (NASDAQ:TPIC), the US maker of composite wind blades, said today it has inked a multiyear supply agreement with Danish wind turbine manufacturer Vestas Wind Systems A/S (CPH:VWS) for the Latin American market.

Under the deal, TPI will supply blades for Vestas' V136 wind turbine from two manufacturing lines at a new factory in Mexico that is due to start production in the first half of 2018. It includes the option for adding more lines.

The Scottsdale, Arizona-based blade maker said its new plant, to be located in Matamoros, northeastern Mexico, will be able to serve markets in Mexico, Central and South America via land, rail and by water from the Texas port of Brownsville. The factory will initially be 48,000 sq m (516,700 sq ft) large and will have the potential 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," commented Steve Lockard, president and chief executive of TPI Composites.

Vestas executive vice president and COO Jean-Marc Lechene said the first wind projects to be served will be located in Mexico.

In Mexico, TPI is currently making blades in three facilities in Ciudad Juarez.

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