SOURCE: EuroTrust A/S

March 07, 2007 02:47 ET

EuroTrust Signs Contract With Vestas for Delivery of 14 Units of the V90-3.0 MW Wind Turbine in Spain

KOLDING, DENMARK -- (MARKET WIRE) -- March 7, 2007 -- EuroTrust A/S (NASDAQ: EURO) today announced that through its 100% owned Spanish subsidiary, Parque Eólico Puerto Real S.L.U. placed an order for 14 units of the V90-3.0 MW wind turbine with Vestas Eólica for the project Cortijo de Guerra in Andalucia. The order comprises supply, installation, commissioning, VestasOnline™ Business SCADA system as well as a service contract for 2 years. The order marks the commencement of the construction of the first wind power project in Spain for EuroTrust.

Referring to the closing of the contract Bo Kristensen, Chief Executive Officer (CEO) of EuroTrust A/S, states: "We are delighted to cooperate with Vestas again. We are entering a number of European countries this year and we are very pleased that we will start to produce electricity from our first Spanish project Cortijo de Guerra in the near future."

The project will be the largest which Vestas has installed with the V90-3.0 MW wind turbine in Spain. The wind power plant has an estimated annual production of 98,000 MWh, which corresponds to an estimated annual emission saving of 54,000 tons of CO2. EuroTrust has through its subsidiaries installed 65 Vestas wind turbines in Germany and Italy during 2006.

"We are very pleased to sign the project Cortijo de Guerra with the Danish independent renewable power producer EuroTrust. Their gesture to select Vestas as supplier for their power plant in Spain reflects the great trust in our working relationship and hopefully lay grounds for future cooperation in Spain," says Javier Rodriguez, General Manager of Vestas Eólica in Spain.

The project will be installed near the town of Puerto Real located in the region of Cadiz in Andalucia. Delivery is scheduled to begin in the second half of 2007, and the project will be completed in the first half of 2008.

About EuroTrust A/S:

EuroTrust (NASDAQ: EURO) owns European property and property development businesses and wind energy farms. More information about EuroTrust and its subsidiaries is available at

Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause EuroTrust's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others: (a) economic and other factors that could affect the development and sales of properties such as (i) a downturn in the housing market in Denmark or Norway, (ii) delays in obtaining necessary governmental permits and approvals, and (iii) delays in the construction of housing units; (b) factors that could impact the development and sale of wind energy such as (i) the availability of wind energy turbines for the development of new wind farms, (ii) the market price of electricity, and (iii) the amount of wind in any year; (c) the potential unforeseen impact of offerings from competitors; (d) our ability to raise additional capital to finance our growth aspirations; (e) our ability to control costs and expenses; and (f) general economic, political and labor conditions More information about potential factors that could affect the company's business and financial results is included in EuroTrust's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 20-F for the year ended December 31, 2005 and quarterly reports on Form 6-K. EuroTrust undertakes no obligation to update any of the forward-looking statements after the date of this press release.

Contact Information

  • EuroTrust Contact:
    Bo Kristensen
    CEO EuroTrust
    +45 7696 6000
    Email Contact