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Vestas admits problems with 376 V90 gearboxes

DENMARK: Vestas has admitted issues with its 376 of its V90 3MW gearboxes while announcing a net loss of €162 million euros for Q1 2012.

Vestas V164 turbine... the real thing will not be seen until 2014
Vestas V164 turbine... the real thing will not be seen until 2014

The company said it generated revenue of €1.105 million, an increase of 4%, and said it retains its full-year guidance of an an ebit margin of 0-4%.

Profit has also been hit by problems on 376 V90 3MW gearboxes delivered between 2009 and September last year.

The gearbox, which was developed with Hansen Transmissions, uses an integrated bearing solution.

€40 million has been set aside for the additional maintenance and bearing replacement on its gearboxes.

Profit has also been hit by problems on 376 V90 3MW gearboxes delivered between 2009 and September last year.

In 2011, Vestas posted a €85 million loss for the first quarter, a 118% increase on the same period in 2010.

However, the company said it was slowing the development of the V164 with he first prototype for the turbine planned for 2014. It was due to come out in 2013.

According to Vestas, the decision was based on its current "market outlook" for offshore wind. Despite being the biggest manufacturer in the world the company has surprised many observers by admitting it is looking to bring in development partners for the turbine.

Vestas has said it will make a decision on US staff cuts at the end of the third quarter, if the PTC has not been extended. Last year, it warned it would make 1,600 job cuts if the incentive was allowed to expire.

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