Vestas buys minority share of hybrid power company

Vestas Wind System A/S, the Danish wind-energy company with Colorado production plants in Windsor, Brighton and Pueblo, has bought into a German wind and solar company as a way to diversify its operation.

The company announced that it is “executing our strategy to invest in technology and commercial capabilities beyond wind energy technology, enabling us to develop sustainable energy solutions that meet current and future customer demand.”

Vestas purchased 25.1 percent of Sowitec Group GMBH, a German company that develops alternative-energy projects in multiple countries around the world. It has about 200 employees. Vestas has an option to buy the remainder of the company within three years.

SPONSORED CONTENT

Exploring & expressing grief

Support groups and events, as well as creative therapies and professional counseling, are all ways in which Pathways supports individuals dealing with grief and loss.

Sowitec has installed 2,600 megawatts of solar and wind power.

“With the acquisition of a minority stake in Sowitec, Vestas gains access to an independent development entity that strengthens our co-development portfolio and improves our solutions and capabilities in strategic markets in Latin America,” Juan Araluce, Vestas’ chief sales officer, said in a written statement. “Vestas is continuing to invest in solutions and capabilities that increase our ability to meet our customers’ evolving needs and to partner with them through the energy transition.”

Vestas expects sustainable energy’s share of the energy mix to grow from around 10 percent today to more than 30 percent by 2035. It believes that hybrids — wind and solar together — are key to developing sustainable energy solutions with wind at their core. Hybrids are “grid-friendly and a cost-effective solution that can store and release renewable energy into the grid when needed, and increase the penetration of onshore wind,” the company said in its announcement.