Vestas, Duke Energy sign major wind turbine deal

|About: Vestas Wind Systems A/S ADR (VWDRY)|By:, SA News Editor

Danish wind-turbine maker Vestas Wind Systems' (VWDRY.PK) major supply deal with Duke Energy (DUK), announced earlier today, may be a sign the U.S. wind-power market may be gaining steam.

Vestas will supply 400 MW of power-generating turbines for two wind farms DUK plans to build near Brownsville, Tex., and sell the electricity to municipal utility Austin Energy under two 25-year contracts.

After a slow start this year, the U.S. wind power market has been picking up as utilities look to sign new contracts for renewable energy, says Chris Brown, president of Vestas' U.S. business.

Vestas' ADRs +7.5% today; DUK +0.6%.