All agreed loans

Denmark. Vestas Wind Systems A/S

Date of loan: 7 Oct 2010
Country: Denmark
Customer: Vestas Wind Systems A/S
Amount in EUR: EUR 25 million
NACE sector / loan type: Research and development
Business area: Energy and environment

Environmental effect

This loan contributes to climate change mitigation: 100%

Project

The 4.5-year-maturity loan totalling EUR 25 million has been provided for financing an R&D programme aimed at developing a new type of 3 MW wind turbine for low and medium wind regimes during the period of 2008-2011. The loan is an expansion of the EUR 30 million loan NIB provided to the same project in December 2009. The improvements in the design of the blades, nacelle, cooling systems and load-optimised operation are expected to increase the turbine's reliability, reduce its own energy consumption and increase the output capacity.

Vestas is the world's largest producer of wind turbines. It produces more than 15 types of wind turbines for power generation. Vestas-produced turbines have been installed in 65 countries worldwide. The company employs more than 21,000 persons, of which around 7,000 are based in Denmark.

Sustainability summary

The environmental impacts connected to the R&D for the new turbine are insignificant. Many features of the new design improve energy output and reduce noise levels during operation. Vestas maintain a certifiable management system in accordance with ISO 14001 and OHSAS 18001.

Press release

NIB bevilger 25 millioner euro til danske Vestas til innovation inden for vindturbiner