NIB loan to Danish Vestas backs wind turbine innovation

12/30/2009, 11:01 AM (Source: GlobeNewswire)
NIB and Danish Vestas Wind Systems A/S have signed a new five-year loan
agreement totalling EUR 30 million for financing Vestas' R&D programme.

The loan is being allocated for developing a new type of a 3 MW wind turbine for
low and medium wind regimes. The R&D programme is focused on improving the
design of the blades and nacelle, as well as on adjusting the cooling system and
load-optimised operation of the wind turbine. These measures are expected to
increase the turbine's reliability, reduce its own energy consumption and
increase the output capacity.

"This innovative project of developing a new type of a wind turbine contributes
to an efficient and less costly production of wind energy, thus reducing the
need for fossil-based energy production. Innovation is also one of the most
important ways of raising productivity in an advanced economy and, hence, its
competitiveness," says Johnny Åkerholm, NIB President and CEO.

Vestas is the world's largest producer of wind turbines. The company designs
wind turbine parks for all wind conditions and Vestas-produced turbines have
been installed in 62 countries worldwide.

The Nordic Investment Bank is the common international financial institution of
the eight Nordic and Baltic countries. NIB provides long-term financing to the
energy, environmental, transport, logistics and communications, and innovation
sectors for projects that strengthen competitiveness and enhance the
environment. NIB has the highest possible credit rating, AAA/aaa, with the
leading rating agencies Standard & Poor's and Moody's

For further information, please contact
Stefán Jón Fridriksson, Senior Manager Origination, at +358 10 618 0512,
Nina Monsen, Communications Specialist, at +358 10 618 0291,

P.O.Box 249 (Fabianinkatu 34), FI-00171 Helsinki, FINLAND, +358
10 618 001,


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