Vestas Increases Addressable Market with Acquisition of UpWind Solutions

Vestas has acquired wind power solutions service provider UpWind Solutions and its subsidiaries for $60 million.

“The acquisition accelerates our profitable growth strategy and helps Vestas to capture the full potential of the service business,” Christian Venderby, group senior vice president for Vestas Global Service, said in a Dec. 7 statement. “We are broadening our capabilities and increasing the size of our addressable market for all major turbine technologies. In short, the acquisition is a strong strategic fit.”

With about 310 employees, UpWind Solutions services wind power plants in nine U.S. states with a total capacity of more than 3 GW, and representing a variety of turbine manufacturers. UpWind also supplies parts for most major turbine technologies, performs blade inspections, and offers performance upgrades.

Vestas said it has more than 50 GW under service worldwide, and together Vestas and UpWind Solutions will service approximately 17 GW of Vestas and non-Vestas turbines in the U.S. and Canada with ambitions for further growth.

Lead image credit: Vestas.

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