Vestas Wind Systems A/S - Press release - Vestas welcomes new US Economic Stimulus Bill

Published: 2009-02-17 20:45:26 CET Vestas Wind Systems A/S - Press release Vestas welcomes new US Economic Stimulus Bill US President Barack Obama will sign into law today (17 Feb.) a nearly $790 billion economic stimulus package approved by the US Congress this weekend. The bill is the first of three expected legislative initiatives in 2009 from the new administration to promote and expand renewable energy development in the United States. For Vestas, this is a very positive signal. "We highly welcome the provisions of the stimulus bill related to renewables and wind energy. This is exactly the kind of action and short-term follow up from the new administration we have been calling for from the industry. It is a good first step for the necessary new changes which are needed in the American electricity sector in order to have more energy independence and a cleaner energy production," Vestas President and CEO Ditlev Engel comments. Senior Vice President, Vestas Group Government Relations, Peter C. Brun further explains the significance: "This is the first time in the US we have ever seen such long regulatory stability in terms of a multi-year Production Tax Credit until 31 December 2012. Previously, the PTC extensions were only one or two years constituting big risk and uncertainty for both investors and manufactures like Vestas. So we regard this development as a major positive development in the US market." Another innovation is the introduction of a new grant program allowing investors to convert production or investment tax credits into an equivalent financial grant from the Treasury. This is an important new option for investors to stimulate short-term investments in the present economic situation. The US administration has announced it will also propose an energy bill and climate change legislation later this year. The economic stimulus bill contains both tax incentives and federal spending programs that will provide a significant boost to the continued growth of renewable energy jobs in manufacturing and project development. Highlights of the renewable energy provisions in the package include: A three-year extension of the Production Tax Credit (PTC), through 31 December 2012. An option for project owners to claim a 30 per cent Investment Tax Credit (ITC) in lieu of the PTC. A new grant program, administered by the US Treasury, to ensure that project owners can effectively monetize their renewable energy tax credit during the current economic crisis. A new 30 per cent investment tax credit that will provide over $2.3 billion to invigorate domestic renewable energy manufacturing and create clean energy jobs. Targeted provisions, including funding, to encourage renewable and electricity transmission "The choice of the administration to sign the stimulus bill in Colorado is well-chosen," notes Vestas Senior Vice President Roby Roberts. "Vestas has already shown its commitment to the American market by building manufacturing plants in the state. For Vestas, the stimulus provisions for renewables and wind power are incredibly important for sustaining our American investments. In this regard, also the new manufacturing tax credit and the transmission initiatives are very encouraging." In 2008, Vestas opened its first manufacturing facility in Windsor, Colorado - creating 650 local jobs. Vestas is looking to implement a one billion USD investment programme, which would make Vestas the biggest wind power investor in the USA. Yours sincerely Vestas Wind Systems A/S Ditlev Engel President and CEO Contact details: Peter C. Brun, Senior Vice President, Vestas Group Government Relations Tel.: +45 4160 6102 Roby Roberts, Senior Vice President of External Relations, Vestas Americas A/S Tel.: +1 503 327 2370 Attachments: 090217-vws_pr_uk-02.pdf Cancel this subscription This information is sent by GlobeNewswire from NASDAQ OMX. To contact GlobeNewswire please send an email to: cns@nasdaqomx.com

Vestas Wind Systems A/S - Press release - CORRECTION: Vestas at World Economic Forum to “Shape the Post-Crisis World”

Published: 2009-01-28 12:18:12 CET Vestas Wind Systems A/S - Press release CORRECTION: Vestas at World Economic Forum to "Shape the Post-Crisis World" Vestas will be present at the World Economic Forum's Annual Meeting in Davos, Switzerland on 28-31 January 2009 to engage in debates concerning climate change, energy security and job creation opportunities All of which, the wind power business offers and provides strong and compelling solutions for. Ditlev Engel, President and CEO of Vestas Wind Systems A/S, and Peter C. Brun, Senior Vice President of Vestas' Group Government Relations, will represent Vestas at the Energy Summit & Energy Board Room Programme. Vestas has now been a member of the World Economic Forum for a little more than one year. Since the last summit, Vestas has engaged with other members to discuss important global macro trends such as the significant growth of renewables, climate change, water scarcity and energy dependency in various WEF meetings and summits. Vestas has also participated in the Global Agenda Council together with 700 thought leaders to brainstorm and discuss global risk and challenges under the overarching theme: "Shaping the Post-Crisis World". "Vestas has engaged actively in the activities of the World Economic Forum to discuss and demonstrate with its 30 years of experience how wind power can contribute to fight climate change, improve energy security and create many new clean energy jobs in many markets around the world," says Peter C. Brun, and he continues: "Many forum participants, including members of government and energy business partners have shown great interest in wind power as a mature clean energy solution and how this technology can be integrated in larger scale in the power mix." "At this year's World Economic Forum, renewables and wind power will be discussed explicitly for the first time in various panels and meeting. This is only natural after the European Union approved its ambitious climate and renewables package in December 2008 and the new American administration is preparing its new energy economy initiatives," ends Peter C. Brun. Contact details: Peter C. Brun, Senior Vice President of Group Government Relations Vestas Wind Systems A/S Telephone +45 4160 6102 Vestas - No. 1 in Modern Energy With a 23 per cent global market share in 2007, Vestas is the world's leading supplier of modern energy solutions. The company's core business comprises the development, manufacture, sale and maintenance of wind technology that uses wind energy to generate electricity. Vestas has installed more than 35,500 wind turbines in 63 countries. Cancel this subscription This information is sent by GlobeNewswire from NASDAQ OMX. To contact GlobeNewswire please send an email to: cns@nasdaqomx.com

Vestas Wind Systems A/S - Press release - Vestas at World Economic Forum to “Shape the Post-Crisis World”

Published: 2009-01-28 12:15:11 CET Vestas Wind Systems A/S - Press release Vestas at World Economic Forum to "Shape the Post-Crisis World" Vestas will be present at the World Economic Forum's Annual Meeting in Davos, Switzerland on 28-31 January 2009 to engage in debates concerning climate change, energy security and job creation opportunities All of which, the wind power business offers and provides strong and compelling solutions for. Ditlev Engel, President and CEO of Vestas Wind Systems A/S, and Peter C. Brun, Senior Vice President of Vestas' Group Government Relations, will represent Vestas at the Energy Summit & Energy Board Room Programme. Vestas has now been a member of the World Economic Forum for a little more than one year. Since the last summit, Vestas has engaged with other members to discuss important global macro trends such as the significant growth of renewables, climate change, water scarcity and energy dependency in various WEF meetings and summits. Vestas has also participated in the Global Agenda Council together with 700 thought leaders to brainstorm and discuss global risk and challenges under the overarching theme: "Shaping the Post-Crisis World". "Vestas has engaged actively in the activities of the World Economic Forum to discuss and demonstrate with its 30 years of experience how wind power can contribute to fight climate change, improve energy security and create many new clean energy jobs in many markets around the world," says Peter C. Brun, and he continues: "Many forum participants, including members of government and energy business partners have shown great interest in wind power as a mature clean energy solution and how this technology can be integrated in larger scale in the power mix." "At this year's World Economic Forum, renewables and wind power will be discussed explicitly for the first time in various panels and meeting. This is only natural after the European Union approved its ambitious climate and renewables package in December 2008 and the new American administration is preparing its new energy economy initiatives," ends Peter C. Brun. Contact details: Peter C. Brun, Senior Vice President of Group Government Relations Vestas Wind Systems A/S Telephone +45 4160 6102 Vestas - No. 1 in Modern Energy With a 23 per cent global market share in 2007, Vestas is the world's leading supplier of modern energy solutions. The company's core business comprises the development, manufacture, sale and maintenance of wind technology that uses wind energy to generate electricity. Vestas has installed more than 35,500 wind turbines in 63 countries. Attachments: 090128-vws_pr_uk-01.pdf Cancel this subscription This information is sent by GlobeNewswire from NASDAQ OMX. To contact GlobeNewswire please send an email to: cns@nasdaqomx.com