BlackRock increases its stake in Danish wind turbine firm Vestas

US investment manager BlackRock Inc (NYSE:BLK) has raised its shareholding in Danish wind turbine manufacturer Vestas Wind Systems A/S (CPH:VWS) to about 5.04%, the latter announced.

The transaction was carried out by the US investment manager’s London-based unit BlackRock Investment Management (UK) Limited, which now holds nearly 10.26m shares in Vestas. The Danish company did not provide any further details.

Vestas is engaged in developing, manufacturing, installing and maintaining wind turbines. As at the end of December 2011, the company had a total of 46,143 turbines, or 49,332 MW, installed around the world.

Recently, Vestas reported some preliminary financial figures for the first six months and the second quarter of 2012 according to which the company has registered a revenue of EUR2.7bn (USD3.3bn) and an EBITDA of EUR71m in the first half, representing an year-on-year increase of 10% and a drop of 53%, respectively. For the second quarter alone, Vestas has recorded a revenue of EUR1.6bn and an EBITDA of EUR161m, up by 15% and 7% on the year, respectively.

The company will disclose its interim financial report for the first half of 2012 tomorrow.

BlackRock offers investment and risk management as well as advisory services to institutional and retail customers globally. The company had USD3.56trn (EUR2.87trn) of assets under management (AUM) as at 30 June 2012.