31. October 2009

Wind Sector Reports Good Q3 Numbers

EDP Renovaveis and Iberdrola Renovables reported good 3Q numbers with EBITDA growth of over 10%. The companies realized a strong increase in installed capacity that was partially offset by lower realized prices in Spain. Vestas delivered Q3 EBIT far above consensus estimates and reiterated 2009 guidance. The company is optimistic about 2010 and issued new guidance reflecting a 4% growth from current levels. Chinese wind turbine manufacturers Goldwind and Sinovel have both completed their research and development of large-scale wind turbines, and launched 2.5MW and 3.5MW turbines respectively.