|

Vestas and Fortum settle arbitration over Russian wind energy projects

By

Danish wind turbine manufacturer Vestas and Nordic energy company Fortum have settled their arbitration dispute regarding wind energy projects in Russia. Both parties agreed to drop all past, present, and future claims, with the settlement terms remaining confidential. The dispute began in 2022 when Fortum initiated arbitration at the International Chamber of Commerce in Stockholm. Fortum sought more than $218 million (€200 million) in compensation from Vestas for payments made on wind projects in Russia…

|

Vestas secures 134 MW wind turbine order from Invenergy in Japan

By

Danish wind turbine manufacturer Vestas has won a 134 MW order from Invenergy for Japan’s Inaniwa Wind Energy Center in Iwate prefecture. This marks Vestas’ largest order in Japan to date. The company will supply and install 32 of its V117-4.2 MW turbines, along with a 20-year Active Output Management 5000 (AOM 5000) service agreement. Deliveries are set to begin in the first half of 2027, with project commissioning expected in the first quarter of…