News Release from Vestas

Wind Industry Profile of

Vestas

08/25/2021

Vestas secures 50 MW in two Polish projects

Vestas has received two orders in Poland totalling 50 MW from the Project Joint Venture between V-Ridium Power Group and KGAL. V-Ridium is fully owned by Greenvolt – Energias Renovaveis SA, while KGAL is a leading independent investment and asset manager with assets under management of around €11.2 billion and assets under administration of €4.0 billion.

The order is to supply and install turbines at the 15 MW Podlasek and 35 MW Wólka Dobry?ska projects in Poland, both targeted for full commissioning by the end of 2022.

Both projects were awarded in the third Polish renewable energy auctions, and the 50 MW adds to Vestas’ tally of installing more than 2.6 GW of wind turbines in Poland.

Vestas will supply and install seven V110-2.0 MW turbines in 2.2 MW operating mode at Podlasek, which is located close to the village of Podlasek about 100km south of Gdansk in Poland.

At Wólka Dobry?ska, Vestas will supply and install ten V126-3.45 MW turbines. The project is situated in eastern Poland, approximately 18 km north east of the city of Biala Podlaska, in the Lubelskie Voivodeship.

Vestas will provide service for both projects through long-term 30-year Active Output Management 5000 (AOM 5000) service agreements, providing power performance certainty and Vestas’ industry-leading service expertise throughout the lifetime of the projects.

Richard Baylis, VP Sales East and Business Development at Vestas Northern & Central Europe, said of the orders: “We’re pleased that Vi-Ridium has entrusted Vestas with delivering their next two projects in Poland, building on our previous collaborations at the Mlawa and Grajewo wind projects. Vestas is now delivering the right configuration of turbines for the Podlasek and Wólka Dobry?ska projects, with quick installations in 2022, and long-term service to ensure best-in-class performance for our customer.”

Radek Nowak, CEO of V-ridium Group, commented the transaction: “This is the first contract signed since V-ridium joined the Greenvolt Group. We have always had a very strong business relationship with Vestas in Poland, and now, with the support of Greenvolt and ambitious development plans, we are aiming at not only strengthening that collaboration in Poland, but also soon extended it to other European jurisdictions where we are currently developing significant portfolio of wind projects.”

Deliveries are expected to begin in the third quarter of 2022, with full commissioning at both projects planned for the fourth quarter of 2022.