TPI & Gamesa Sign Long-Term Supply Agreement
TPI Composites announced today that it has signed a long-term agreement with Gamesa to supply blades for its G114 wind turbine from TPI's factory in Juarez, Mexico.
Scottsdale, Arizona February 19, 2014
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TPI Composites announced today that it has signed a long-term agreement with Gamesa to supply blades for its G114 wind turbine from TPI's factory in Juarez, Mexico. Gamesa will use these blades to cost-effectively serve wind projects in the U.S. and Mexico as well as for export to other emerging regional markets.
"We are very pleased to add Gamesa as a key customer for our Mexico operation," said Steve Lockard, President & CEO of TPI Composites. "Gamesa is an international wind leader with very strong ties to the U.S. and Mexican markets. Recent strong U.S. orders validate the new G114-2.0MW model as one of the most efficient turbines in the market at medium and low wind speeds."
Borja Negro, CEO, Gamesa North America added, "We are excited to be partnering with TPI to provide world-class wind blades to our regional target markets. TPI's quality and process rigor, as well as its strong record of delivering many thousands of reliable blades, make TPI an excellent partner for Gamesa."
Lockard added, "We look forward to working closely with Gamesa to continue its quest to drive down the levelized cost of energy (LCOE) for wind which will help to strengthen and stabilize its key target markets. It is great for TPI to complement our northern Midwestern location in Newton, Iowa with a plant site on the Texas-Mexico border that can cost-effectively serve a broader market."
TPI's Juarez factory was formerly operated as a joint venture under the name of VienTek and is now 100% owned by TPI and serving multiple customers. TPI is in the process of rehiring about 600 former VienTek employees to put their skills and blade manufacturing knowledge back to work.
About TPI Composites, Inc.
TPI Composites is a U.S.-based leading global supplier of structural composite products to the wind energy, military, and transportation markets. TPI delivers high-quality, cost effective composite solutions through long term partnerships with leading manufacturers. TPI operates factories throughout the U.S., Mexico, China and Turkey. For more information about TPI, go to http://www.tpicomposites.com.
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