Wind Blade Maker TPI Taps Vestas For Mexican, Indian Asset Sales

Bankrupt wind turbine blade manufacturer TPI Composites Inc. has chosen Denmark-based customer Vestas Wind Systems AS to purchase some of its assets, including its equity in Mexican subsidiaries and property belonging to its US and India subsidiaries.

TPI canceled a scheduled auction after no other qualified bids were submitted for the asset package, according to a notice filed Dec. 12 in the US Bankruptcy Court for the Southern District of Texas.

Vestas is in line buy the equity of the reorganized successors of TPI bankrupt units TPI Mexico V LLC and TPI Mexico VI LLC, according to the notice. It ...