TPI and Vestas Sign Wind Blade Supply Agreement for Turkey

SCOTTSDALE, Ariz., Jan. 4, 2016 /PRNewswire/ -- TPI Composites, Inc., a leading global supplier of wind turbine blades, announced today that it has signed a multiyear supply agreement with Vestas Wind Systems A/S to provide blades for the V126 wind turbine from TPI's recently announced second factory in Izmir, Turkey, which is scheduled to open for production in late 2016. The factory will be located on a 10 hectares site and initially be 30,000 m2 with the ability to expand in the future. "A year ago we announced our first supply agreement with Vestas for blade production in China. We are excited that Vestas has chosen to expand its business relationship with TPI and outsource blade production in the EMEA region with TPI," said Steve Lockard, President and CEO of TPI Composites. "We look forward to providing cost-effective, high-quality wind blades to Vestas and its customers for the wind markets in Europe, Middle East, and Africa," added Lars Moller, Senior Vice President of EMEA. TPI has produced wind blades in Turkey since 2012, and is currently producing blades in Turkey for GE and Nordex. About TPI Composites, Inc. TPI Composites, Inc. is the largest U.S.-based independent manufacturer of composite wind blades for the high-growth wind energy market. TPI also provides structural composite products to the transportation market. TPI delivers high-quality, cost effective composite solutions through long term relationships with leading wind turbine manufacturers. TPI operates factories throughout the U.S., Mexico, China and Turkey. For more information about TPI, go to www.tpicomposites.com. About Vestas Vestas wind turbines deliver clean energy that supports the global fight against climate change. Wind power from Vestas' more than 55,000 wind turbines currently reduces carbon emissions by over 60 million tons of carbon dioxide every year, while at the same time building energy security and independence. Vestas has delivered wind energy in 74 countries, providing jobs for around 19,600 passionate people at our service and project sites, research facilities, factories and offices all over the world. With 52 percent more megawatts installed than anyone else in the industry and more than 71 GW of cumulative installed capacity worldwide, Vestas is the world leader in wind energy. Media Contact: Greg Sexton, LAVIDGE (480) 998-2600 x555 gsexton@lavidge.com