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Vestas CEO says no plan to go into project finance

Tue Oct 27, 2009 11:11am EDT

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COPENHAGEN, Oct 27 (Reuters) - Danish wind turbine builder Vestas (VWS.CO) has no plans to get into providing project financing for customers, the company's chief executive said on Tuesday.

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CEO Ditlev Engel said that many of the company's customers are financially sound "so the need for Vestas' participation (in financing) is not really there."

"So we do not have any plans to engage in this kind of work," Engel said after Vestas Wind Systems A/S reported forecast-beating results for the third quarter and stuck to its previous guidance for 2009.

"We have no plans to change our role in the value chain," Engel told analysts and reporters in a presentation in New York that was made available by teleconference.

(Reporting by John Acher)

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