US: Vestas wins new service agreement featuring broad asset management responsibilities

The agreement covering the 102 MW Coram Wind Project located in the Tehachapi region of California reflects Vestas’ service business flexibility as Vestas will serve as RET Capital’s on-site asset manager, with responsibility for 24/7 surveillance, reporting to power purchaser Pacific Gas & Electric (PG&E), responding to curtailment requests, and managing the entire physical asset.

In addition to a 5-year Active Output Management (AOM) 5000 package, which maximizes energy production and includes options on energy-based guarantees, the agreement also covers maintenance of balance-of-plant electrical equipment, wildlife and vegetation management, care of meteorological equipment, road and fencing maintenance, and other tasks.   

On July 2, 2015, the Coram project consisting of 34 V90-3.0 MW turbines was purchased by RET Capital from BAIF US Renewable Power Holdings. Simultaneous with taking possession of the project, RET Capital engaged Vestas as “service provider plus” for the facility.

“We’re very pleased to be working with a high quality organization like Vestas in this comprehensive manner, and look forward to pursuing other opportunities together in the future,” said John Bohn, Chief Executive Officer and Chairman of RET Capital. 
 
“The wind industry is evolving with the entry of financial investors seeking dependable cash flows from smoothly operating projects employing mature technology,” says Chris Brown, President of Vestas’ sales and service division in the United States and Canada. “As the industry changes, Vestas is changing with it, tailoring our traditional service approach to meet customer needs, including a complete asset management solution. Combined with our unique ability to continuously improve the productivity of Vestas turbines throughout their operating lifetimes, we think that’s an unbeatable combination.”