Power 20:20 | September 2016
Power 20:20 | Best Selling Power Company in Renewables - Vestas Wind Systems
Vestas Wind Systems A/S is a Danish manufacturer, seller, installer, and servicer of wind turbines. It was founded in 1945, and as of 2013, it is the largest wind turbine company in the world. The company operates manufacturing plants in Denmark, Germany, India, Italy, Romania, the United Kingdom, Spain, Sweden, Norway, Australia, China, and the United States.
S The company works in close partnership with customers to offer the most effective solutions towards energy independence. Tracing its 110 years of experience, beginning in 1898. their story contains many successes and a few setbacks.
- Over the past 37 years, Vestas has continuously pioneered new technologies and solutions to bring reliable wind energy solutions worldwide. From 1980-1989, they pioneered markets in India, Greece, China, Israel, Mauritius and Montserrat; from the first turbine installed in Mykonos, Greece to the first wind park installation in India.
- From 1990-1999, they pioneered markets in France, Norway, Ireland, New Zealand, Australia, Czech Republic, Argentina, Cape Verde, Iran, Mexico, Russia, South Korea, Thailand, Peru, Jordan, Luxembourg, Jamaica and Sri Lanka.
- From 2000-2009, they tapped Morocco, Taiwan, Chile, Slovakia, United Arab Emirates, Croatia, Philippines, Azerbaijan and Aruba.
- And from 2010-2020, they have tapped and will continue to pioneer new markets like Cyprus, Dominican Republic, Guatemala and Serbia.
- Outlook 2016: Revenue is expected to be minimum -Ç9.5bn including service revenue, which is expected to grow. Vestas expects to achieve an EBIT margin before special items of minimum 12.5 per cent with the service EBIT margin remaining stable.
- Research and Development: Vestas spent -Ç92 million ($128 million), or 1.4 per cent of revenue, on research and development in 2009.
- It has filed 787 wind turbine patents (227 in 2010) according to United Kingdom Intellectual Property Office (UK-IPO), while General Electric has 666 and Siemens Wind Power has 242.
- As of 2012 Vestas has installed over 48,000 wind turbines for a capacity of 55 GW in over 70 countries on five continents.
- As of 31 2012 the company has built production facilities in more than 12 countries, among them China, Spain and the United States.
Vestas is a signatory to the United Nations Global Compact and World Economic forums Partnering Against Corruption Initiative. These commitments support their intent to power sustainability, both within the organisation and beyond.
The commitments are reflected in the sustainability policies. For instance, policies on human rights and freedom of association have been embedded to enforce human rights practices and ethical behaviour in the business.
In order to meet the standards of conduct set for themselves and their business partners, the company seeks continuous improvements within business ethics and have specific areas of focus. These include revising the code of conduct, strengthening their third party programme and raising awareness of their EthicsLine.