January 2, 2013 / 10:11 AM / 5 years ago

BRIEF-Vestas sees stronger U.S. wind market due PTC extension

COPENHAGEN, Jan 2 (Reuters) - Vestas Wind Systems A/S : * Says the late timing of the extension of the U.S. Production Tax Credit (PTC) will result in a significant reduction in 2013 installations relative to previous years due to the time it takes from when an order is placed to project completion * Says the U.S. market will nonetheless be stronger as a result of the PTC extension * Says PTC extension does not affect Vestas’ projections to deliver about 5 gw this year and to employ about 16,000 people by end-2013 * Says the short-term PTC extension is critical to ensure projects move forward and orders are placed that will support U.S. manufacturing and the domestic supply chain.

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