Vestas wins 373 MW order in South Africa featuring the first V163-4.5 MW wind turbines

SANDTON, SOUTH AFRICA – EQS Newswire – 14 March 2023 – Independent power producer Red Rocket has placed a 373 MW order for the Brandvalley, Rietkloof and Wolf wind parks, to be located in Western Cape and Eastern Cape, South Africa. The contract includes the supply and installation of 64 V150-4.5 MW wind turbines, 12 V163-4.5 MW wind turbines and five V162-6.2 MW Enventus wind turbines. Vestas will service the wind parks through a 15-year Active Output Management 5000 (AOM 5000) agreement.

Red Rocket’s CEO, Matteo Brambilla said: “Red Rocket has been investing and supporting South Africa’s electricity crisis for more than a decade and with a portfolio of more than 1,000 MW of wind, hydro and solar projects under development, in construction or in operation in the country, we are delighted to continue making a significant contribution to South Africa and the rest of the continent.” Brambilla added: “The projects will bring a 740-million-rand community investment over 20 years through local social projects. The wind farms will start operating in 2024”.

The order includes the first installations globally of the V163-4.5 MW wind turbine from Vestas’ 4 MW platform. Featuring an 18 per cent increase in swept area, the V163-4.5 MW has a large rotor-size-to-rating ratio resulting in a higher capacity factor, enabling up to 10 percent higher Annual Energy Production at park level compared to the V150-4.5 MW depending on site-specific conditions. This increases power output at lower wind speeds significantly and improves predictability and stability in production, optimising the utilisation of the wind park as well as benefitting the energy grid.

“I would like to thank Red Rocket for the trust they have placed in Vestas’ latest evolution of technology. With three different wind turbine variants across platforms this order showcases that we are able to enhance the customer business case through optimising the layout on each wind project site with Vestas’ flexible and diverse product portfolio. We firmly believe that our partnership can make a significant contribution to a more reliable, affordable and sustainable energy mix in South Africa”, says Vestas Sales & Business Development Senior Director, Malte Meyer.

Turbine delivery and commissioning are expected by 2024.

Vestas leads the South African wind power market with over 1.3 GW of installed and under construction capacity. The company is strongly committed to contribute to South Africa’s new renewable energy targets, which include reaching 17.7 GW of wind capacity by 2030 and increasing the presence of renewables in its energy mix from the current 11 per cent to about 41 per cent by 2030.

About Vestas:

Vestas is the energy industry’s global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe, and with more than 164 GW of wind turbines in 87 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 144 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas’ more than 28,000 employees are bringing the world sustainable energy solutions to power a bright future.

For updated Vestas photographs and videos, please visit our media images page on: https://apo-opa.info/3JixTYm

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We invite you to learn more about Vestas by visiting our website at www.vestas.com and following us on our social media channels:

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For more information, please contact:

Andrés DomínguezCommunications SpecialistVestas Mediterranean, Africa & Middle EastM +34 649294007

Email: andms@vestas.com

‫فيستاس تفوز بصفقة مشروع من 373 ميجاوات في جنوب إفريقيا، يتضمّن أول دفعة من توربينات الرياح  V163-4.5 MW

 قامت شركة “ريد روكيت” لإنتاج الطاقة المستقلّة بتقديم طلب لإنتاج 373 ميجاوات من طاقة الرياح  في محطات توليد الطاقة Brandvalley وRietkloof وWolf في مقاطعة كيب الغربية ومقاطعة كيب الشرقية في جنوب إفريقيا.يشمل الطلب تزويد وتركيب 64 توربينة من طراز  V150-4.5 MWو12 توربينة V163-4.5 MW وخمسة توربينات الرياح .V162-6.2 MW Enventus وستقوم فيستاس بخدمة التشغيل والصيانة لتلك المحطات من خلال اتفاقيةActive Output Management 5000 (AOM 5000)  ولمدّة 15 عاماً.

وقال الرئيس التنفيذي لشركة ريد روكيت، ماتيو برامبيلا: “لا تزال شركة ريد روكيت تستثمر وتدعم الحلول لأزمة الكهرباء في جنوب إفريقيا منذ أكثر من عقد من الزمن ولديها ما يزيد عن 1000 ميجاوات من مشاريع طاقة الرياح والطاقة المائية والطاقة الشمسية قيد التطوير أو قيد الإنشاء أو قيد التشغيل في البلد. ويسعدنا أن نواصل تقديم مساهمة كبيرة في هذا المجال لجنوب إفريقيا وبقية دول القارة”. وأضاف برامبيلا: “ستجلب تلك المشاريع استثمارات عديدة في المجتمع بقيمة 740 مليون راند على مدى 20 عاماً وسوف يبدأ العمل في هذه المشاريع في العام 2024.”

يتضمّن الطلب دفعة التركيبات الأولى من نوعها على مستوى العالم لتوربينات الرياح V163-4.5 MW من منصة فيستاس بقدرة 4 ميجاوات. ويتميّز محرّك V163-4.5 ميجاوات بزيادة في الإنتاجية نسبتها 18 في المائة في حقل دوران الشفرات ونسبة دوران عالية مما يتيح زيادة إنتاج الطاقة السنوية بنسبة تصل إلى 10 في المائة مقارنةً بمحرّك V150- 4.5 ميجاوات، وذلك وفقاً للظروف الخاصة بكل موقع. ويؤدّي ذلك إلى زيادة إنتاج الطاقة عند سرعة الرياح المنخفضة بشكلٍ كبير ويُحسّن القدرة على التنبؤ والاستقرار في الإنتاج، مما يؤدّي إلى الاستفادة الكبيرة من الرياح بالإضافة إلى الاستفادة من شبكة الطاقة.

من جهته قال المدير الأول للمبيعات وتطوير الأعمال في فيستاس، مالت ماير “أودّ أن أشكر ريد روكيت على ثقتهم بشركة فيستاس والتكنولوجيا المتطورة التي أحدثتها. فمن خلال ثلاثة أنواع مختلفة من توربينات الرياح المتطورة، يؤكد هذا الطلب أننا قادرون على تعزيز الأعمال التجارية من خلال تحسين عمليات التخطيط في كل موقع من مواقع العمل وفي مشاريع الرياح، وذلك باستخدام منتجات فيستاس المرنة والمتنوّعة. نحن نؤمن إيماناً راسخاً بأنّ شراكتنا يمكن أن تقدّم مساهمة كبيرة في تمكين وتطوير الطاقة الموثوقة والمستدامة وبتكلفة منخفضة في جنوب إفريقيا”.

من المتوقّع تسليم التوربينات وتشغيلها بحلول عام 2024.

تقود فيستاس سوق طاقة الرياح في جنوب إفريقيا بقدرة تزيد عن 1.3 جيجاوات من الطاقة المركّبة والطاقة تحت قيد الإنشاء. تلتزم الشركة بمساهمة كبيرة في أهداف الطاقة المتجدّدة والحديثة في جنوب إفريقيا، والتي ستصل إلى 17.7 جيجاوات من طاقة الرياح بحلول عام 2030 وزيادة مصادر تلك الطاقة من 11٪ حالياً إلى حوالي 41٪ بحلول عام 2030.

لمزيد من المعلومات، الرجاء التواصل مع:

أندريس دومينغيز، اخصائي اتصالات

فيستاس البحر الأبيض المتوسط، ​​وأفريقيا والشرق الأوسط

M: +34649294007

البريد الإلكتروني: andms@vestas.com

نبذة عن فيستاس:

تعتبر شركة “فيستاس” (Vestas) شريك عالمي في مجال حلول الطاقة المستدامة، حيث تقوم الشركة بتصميم وتصنيع وتركيب وصيانة توربينات الرياح المولدة للكهرباء في جميع أنحاء العالم. تعمل “فيستاس” على إنتاج أكثر من 164 جيجاوات من الكهرباء من توربينات الرياح في 87 دولة. تعتبر “فيستاس” الشركة السباقة والرائدة في مجال تركيب مولدات الكهرباء من طاقة الرياح والأولى في هذا المجال بين نظراءها على مستوى العالم. توظف “فيستاس” إمكاناتها الرائدة والمتطورة بمعالجة البيانات لتوربينات الرياح قيد الخدمة حالياً والمولدة لأكثر من 144 جيجاوات من الطاقة الكهربائية لتحليل مسارات الرياح التنبؤ بها بهدف استغلالها بالشكل الأمثل وتقديم أفضل الحلول لتوليد الكهرباء من طاقة الرياح، وتتميز هذه الحلول بكفاءتها عن نظيراتها من الشركات. بالإضافة إلى التعاون مع عملاءنا، يعمل أكثر من 28000 موظف في “فيستاس” على توفير حلول مستدامة للطاقة لضمان صنع مستقبل أكثر إشراقاٌ.

للحصول على آخر الصور والفيديوهات لشركة “فيستاس” يرجى زيارة صفحة صور وسائل الإعلام لدينا: https://apo-opa.info/3JixTYm

تنزيل الصورة: https://apo-opa.info/3YFfpao

ولمعرفة المزيد عن “فيستاس” تفضلوا بزيارة موقعنا على www.Vestas.com ومتابعتنا على صفحاتنا على مواقع التواصل الاجتماعي:

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EQUITY ALERT: Rosen Law Firm Files Securities Class Action Lawsuit on Behalf of SVB Financial Group Investors– SIVB

NEW YORK, March 13, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of SVB Financial Group (NASDAQ: SIVB) between June 16, 2021 and March 10, 2023, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 12, 2023.

SO WHAT: If you purchased SVB securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the SVB class action, go to https://rosenlegal.com/submit-form/?case_id=12882 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 12, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company failed to disclose to investors the risks presented by impending rising interest rates; (2) the Company failed to disclose to investors that, in an environment with high interest rates, it would be worse off than banks that did not cater to tech startups and venture capital-backed companies; (3) the Company failed to disclose that, if its investments were negatively affected by rising interest rates, it was particularly susceptible to a bank run; (4) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the SVB class action, go to https://rosenlegal.com/submit-form/?case_id=12882 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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www.rosenlegal.com

GlobeNewswire Distribution ID 8787299

CONDOMINIUMS AND HOMEOWNERS ASSOCIATIONS CONFRONT RISING INSURANCE PREMIUMS, MAINTENANCE FEES, AND OPERATING COSTS

Falls Church, Va., March 13, 2023 (GLOBE NEWSWIRE) — Residents living in condominiums, homeowners associations, and housing cooperatives could be facing increased assessments due to growing operating costs and expenses. According to a new survey by the Foundation for Community Association Research, 91% of community association managers, professionals, and homeowners surveyed report they are seeing unexpected increases in expenses due to rising costs and inflation.

Released today, the Foundation’s “Rising Costs in Community Associations” survey is the direct feedback from international community association board members, managers, and business partners— including accountants, reserve study professionals, and service providers.

According to survey respondents, management fees (92%), insurance premiums (91%), maintenance services (85%), staffing (74%), landscape services (72%), and reserve funding (64%) are the areas with the largest increases in costs.

When asked how they planned to address the unexpected costs, 73% of respondents report they plan to raise assessments, while 41% say they plan to reduce expenses, and 15% will lower their reserve funding contributions.

Forty percent of survey respondents plan to defer maintenance projects, and 31% are reducing landscaping programs, while 18% plan to reduce legal fees, and 14% will reduce community amenities. Renegotiating contracts, prioritizing projects, investing in energy efficiency, special assessments, utilizing contingency funds, and exploring bank loans are other efforts being considered.

As inflation continues to drive up material and supply costs, 87% of community association management companies say they plan to increase their fees this year, and 39% of these companies say their bids and proposals for community association services don’t expire.

The report further outlines best practices and considerations for communities when forecasting a financial plan, including current inflation conditions directly impacting condominiums and homeowners associations.

“As we witness inflation’s impact on the housing market, the results give us a better understanding of how these economic factors are challenging residents and the professionals who serve condominiums and homeowners associations,” says Dawn. M. Bauman, CAE, executive director of the Foundation for Community Association Research. “The new survey will be a valuable resource for communities needing to fulfill their fiduciary responsibility to homeowners while determining what products, services, and programs move forward.”

Media Contact:
Amy Hawkes Repke
Vice President, Communications & Marketing
arepke@caionline.org | (703) 624-2179

Dawn M. Bauman, CAE
Senior Vice President, Government & Public Affairs | Executive Director, Foundation for Community Association Research
dbauman@caionline.org | (703) 867-5588

About the Foundation for Community Association Research
Our mission—with your support—is to provide research-based information for homeowners, community association board members, community managers, developers, and other stakeholders. Since the Foundation’s inception in 1975, we’ve built a solid reputation for producing accurate, insightful, and timely information, and we continue to build on that legacy. Visit foundation.caionline.org.

About Community Associations Institute 
Since 1973, Community Associations Institute (CAI) has been the leading provider of resources and information for homeowners, volunteer board leaders, professional managers, and business professionals in the more than 358,000 homeowners associations, condominiums, and housing cooperatives in the United States and millions of communities worldwide. With more than 44,000 members, CAI works in partnership with 36 legislative action committees and 64 affiliated chapters within the U.S., Canada, South Africa, and the United Arab Emirates as well as with housing leaders in several other countries, including Australia, Spain, and the United Kingdom. A global nonprofit 501(c)(6) organization, CAI is the foremost authority in community association management, governance, education, and advocacy. Our mission is to inspire professionalism, effective leadership, and responsible citizenship—ideals reflected in community associations that are preferred places to call home. Visit us at www.caionline.org, and follow us on Twitter and Facebook @CAISocial.

Attachment

Amy Repke
Community Associations Institute
703-624-2179
arepke@caionline.org

GlobeNewswire Distribution ID 8787185

AD Ports Group announced as Title Sponsor for Wingfoil Racing World Cup 2023

ABU DHABI, 14th March, 2023 (WAM) — Abu Dhabi Ports (AD Ports) Group has announced its title sponsorship of the highly anticipated Wingfoil Racing World Cup Championship, set to take place from 15th to 19th March, 2023, at Al Mughirah Beach, during the Al Dhafra Water Festival. The event will be the first race in the championship series. Hosted by AD Ports Group and the UAE Sailing and Rowing Federation, in collaboration with the International Wing Sports Association (ISWA), the World Cup Championship will be held in Abu Dhabi for the first time, marking a milestone moment in the Cup’s history. With numerous male and female athletes from various countries competing in the World Cup Series, Abu Dhabi will join the ranks of other international venues spanning continents from Australia, Asia and Europe, to South America in showcasing the races of this exhilarating series. Over the course of 2023, a total of five World Cup rounds will take place around the globe, starting in the UAE, and continuing onto Italy, Switzerland, Italy once more, China, and ultimately Brazil. As part of the Cup competition, a total of six races are scheduled per racing day, and medals will be awarded to the first four competitors per racing category. Wingfoiling, which is predicted to become an increasingly popular sport, is a thrilling and dynamic activity that combines elements from kitesurfing, windsurfing and surfing. Participants stand on a board and control a wing that is not connected to the board, relying on the upwards force and sideways propulsion to move across the water. Sheikh Ahmed bin Hamdan Al Nahyan, President of the UAE Sailing and Rowing Federation and Chairman of the Emirates Kiteboarding Association, said, “I am delighted to see this exciting and dynamic event being held in Abu Dhabi, as it demonstrates our commitment to supporting and promoting the development of sustainable sports. “As wingfoiling gains popularity around the world, we are proud to be part of this global movement towards eco-friendly water sports and we look forward to welcoming athletes and spectators alike to experience the thrill of this sport in our beautiful city.” Commenting on the sponsorship, Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “We are excited to announce our title sponsorship of this rapidly growing, international water sport. As we continue our efforts to develop Abu Dhabi into a leading global maritime capital, this event is a fantastic opportunity to raise the Emirate’s profile in front of an international audience and demonstrate our ability to host high-calibre events.” The Al Dhafra Water Festival is held under the patronage of H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, and celebrates the Emirate’s maritime heritage through a range of activities, including dhow sailing races, beach sports, shows, concerts and a traditional market.

Source: Emirates News Agency

Saudi Public Investment Fund unveils three key initiatives to boost private sector growth

RIYADH, 14th March, 2023 (WAM) The Public Investment Fund (PIF) of Saudi Arabia has announced several new initiatives aimed at supporting and enabling the private sector. These initiatives include the Local Content Growth Programme, called “MUSAHAMA,” which seeks to increase the share of local content spend in PIF’s domestic portfolio to 60 percent by the end of 2025. To achieve this, each PIF company will integrate local content considerations into their design and procurement policies, Saudi Press Agency (SPA) reported today. nother initiative is the Suppliers Development Programme, which will support the development and upskilling of local suppliers and vendors to meet the growing requirements of PIF’s portfolio companies. During 2023, PIF will hold vendor boot camps for Tier 2 and Tier 3 contractors to prepare their companies to qualify as vendors. The third initiative is the Private Sector Hub, a dedicated channel that is now live and will share supplier and investment opportunities with the private sector. It currently contains more than 100 opportunities and will be continuously updated and enhanced. Jerry Todd, Head of the National Development Division at PIF, has emphasised the importance of empowering the private sector in driving the growth and development of the Saudi economy. In line with this priority, PIF has launched the MUSAHAMA Local Content Programme and Supplier Development Programme, both of which aim to embed local content considerations in the activities and operations of PIF and its portfolio companies. This will contribute to developing local industries, building long-term supplier and vendor partnerships, enhancing the competitiveness of local players, improving supply chain resilience, and stimulating innovation in the Saudi economy. Todd also stated that the launch of the Private Sector Hub demonstrates PIF’s commitment to enabling the private sector by creating more visibility on opportunities to participate as suppliers, investors, and operators in PIF’s and its portfolio companies’ projects. Jerry Todd, Head of the National Development Division at PIF, described empowerment of the private sector as one of PIF’s foremost priorities considering the private sector’s crucial role in the growth and development of the Saudi economy. One additional PIF initiative to both enable and engage the private sector is PIF’s inaugural two-day Private Sector Forum which opened today at the Four Seasons Hotel in Riyadh. The first of its kind, PIF’s Private Sector Forum has gathered PIF executives, ministers, senior government officials, and representatives from 50 PIF portfolio companies, as well as over 4,000 private sector participants representing a broad range of sectors. The Forum and the three new initiatives are in alignment with PIF’s aim to increase its contribution to local content to 60 percent by 2025, support the private sector in increasing its contribution to GDP by up to 65 percent by 2030, create job opportunities, localize technology, and drive the transfer of technology and knowledge to Saudi Arabia.

Source: Emirates News Agency