Oregon Public Broadcasting

Vestas has announced losses almost triple the size of those expected. The Danish wind-turbine company has its North American headquarters in Portland.

Vestas reported losses of $220 million for last year.

In addition, the world's biggest wind turbine maker said that its chairman, its deputy chairman and its chief financial officer are leaving.

Last month, Vestas said it would cut more than 2300 jobs globally. 182 of those are expected to be lost in North America, and could include staff in Portland's sales and service divisions.

The losses are chalked up to the higher cost of building turbines and the postponement of several major orders. But the reasons are not completely clear as the company says it will no longer publish the number of future orders it expects.

The company is also working to extend a federal production tax credit for turbine customers. But it is preparing for a slowdown in the event the credit isn't extended.

The company's share price dropped about 15 percent after news of the losses.