Information in the market regarding delay of Vestas contract in Mexico
Friday, May 17, 2013
Today, there is information in the market that the installation of the 396 MW Mareña Renovables project in Mexico (ref. company announcement No. 14/2012 of 12 March 2012) has been delayed.
Vestas can confirm that access to the project sites has continued to be impacted by minority opposition groups, which has caused significant delays in the construction of the project.
Based on the delay, Mareña Renovables has today entered into a forbearance agreement with the project lenders until 30 July 2013, which they expect to be extended subject to certain milestones being achieved; and with Vestas until 30 November 2013.
Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).