Coordinates: 56.1966997°N 10.

1802483°E

Vestas
Vestas Wind Systems A/S is a Danish manufacturer, seller,
installer, and servicer of wind turbines that was founded in Vestas Wind Systems A/S
1945. The company operates manufacturing plants in
Denmark, Germany, Taiwan, India, Italy, Romania, the United
Kingdom, Spain, Sweden, Norway, Australia, China, Brazil[2]
and the United States,[3] and employs more than 25,000
people globally.[4]

As of 2013, it is the largest wind turbine company in the

world.[5]

Contents
History Vestas factory entrance in Pueblo,
Research and development Colorado.
Operations Type Aktieselskab
See also Traded as Nasdaq
References Copenhagen: VWS (htt
p://www.nasdaqomxnor
External links dic.com/aktier/microsite
?languageId=1&Instru
ment=CSE3258)
History ISIN DK0010268606
Industry Electrical equipment
Vestas traces its roots to 1898 when Hand Smith Hansen
bought a blacksmith shop in Lem, West Jutland, that operated Predecessor NEG Micon
as a family business.[6] After the second world war Vestas was Founded 1945
founded in 1945 by his son Peder Hansen as "Vestjysk
Stålteknik A/S" (West-Jutlandish steel technology). The Founder Peder Hansen
company initially manufactured household appliances, moving Headquarters Aarhus, Denmark
its focus to agricultural equipment in 1950, intercoolers in Key people Henrik Andersen (Group
1956, and hydraulic cranes in 1968. It entered the wind
President and CEO), Bert
turbine industry in 1979[7] and produced wind turbines Nordberg (Chairman)
exclusively from 1989.[8] In 1997, the company placed in
Products Wind turbines
production the NTK 1500/60. The product was designed by
Timothy Jacob Jensen and received the German IF Award and Revenue €12.147 billion
the Red Dot Award.[9] The company's North American (2019)[1]
headquarters was relocated in 2002 from Palm Springs, Operating €1.004 million
California to Portland, Oregon.[10][11] income (2019)[1]
In 2003, the company merged with the Danish wind turbine Net income €700 million (2019)[1]
manufacturer NEG Micon to create the largest wind turbine Total assets €14.331 billion (end
manufacturer in the world, under the banner of Vestas Wind 2019)[1]
Systems. After a sales slump and an operational loss in
2005,[3] Vestas recovered in 2006 with a 28% market share[3] Total equity €3.345 billion (end
and increased production although market share slid to 2019)[1]

between 12.5.[12] and 14%[13] Number of 25,000+ (Q4 2019)

employees
Vestas began a whistleblower program in 2007, among the Website www.vestas.com (http:/
first in Denmark.[14] /www.vestas.com)

On 1 December 2008 Vestas announced plans to expand its

North American headquarters in Portland through
construction of a 600,000-square-foot (56,000 m2) new
building, but this plan was mothballed in 2009 due to the
economic recession, and in August 2010 the company
announced a revised plan, scaled back in size, to expand its
Portland headquarters by renovating an existing-but-vacant
172,000 sq ft (16,000 m2) building.[15] At that time, Vestas
employed about 400 in Portland and committed to add at
least 100 more employees there within five years; the new
building will have space for up to 600 workers.[15] The
company moved its Portland offices to the new headquarters
building, a renovated historic building, in May 2012.[16]

In February 2009, the company announced the production of

two new turbine types, the 3-megawatt V112 and 1.8-
megawatt V100. The new models were to be available in
2010.[17]
Vestas V47-660kW wind turbine at the
In July 2009, Vestas announced its manufacturing American Wind Power Center in Lubbock,
operations on the Isle of Wight in England would close due to Texas
a lack of UK demand, affecting 525 jobs there and 100 in
Southampton. Approximately 25 workers at the wind turbine
factory on the island occupied the administration offices in protest on 20 July 2009, demanding
nationalisation to save their jobs.[18]

In August 2009 Vestas hired more than 5,000 extra workers for its new factories in China, the United
States, and Spain. The company said it was "expanding heavily in China and the US because these
markets were growing the fastest, in contrast to the sluggish pace of wind farm development in the
UK".[19] As part of this gradual shift in production away from Europe and towards China and the US,
in October 2010, the company announced it was closing five factories in Denmark and Sweden, with
the loss of 3,000 jobs.[20]

In November 2010, Vestas shut down the 70-person staff advisory department 'Vestas Excellence',
responsible for securing competitiveness, handling suppliers, quality assurance and globalization.[21]
In January 2012, the company suggested firing 1,600 out of its 3,000 U.S. workers if the U.S. did not
renew the 2.2 cents-per-kilowatt-hour Production Tax Credit,[22] which was extended in 2013.[23] On
13 August 2012, an estimated 90 workers were laid off from the Pueblo facility. Six long colored lines,
leading to an exit, had been placed on the floor. Those laid off were given one of six different colored
papers, and then instructed to follow the colored line that matched the colored paper they had been
given.[24] In 2013, the tower factory in Pueblo began ramping up to full utilization as orders
rebounded from the 2012 slump.[25] Other facilities in Colorado include a further 750 persons
employed at a blade manufacturing facility in Windsor, Colorado. Vestas has nacelle and blade
manufacturing facilities in Brighton, Colorado[26] and also operates a tower facility in Pueblo,
Colorado.[27] Vestas said it decided to build its North American production facilities in Colorado
because of the state’s central location, extensive transportation infrastructure and rail system, existing
manufacturing base, and skilled workforce.[27]

In May 2013, Marika Fredriksson became the company's new Executive Vice President and Chief
Financial Officer after her predecessor Dag Andresen resigned for personal reasons. Her strategy is to
lead Vestas back to higher earnings after the important losses faced by the company: from €166
million losses in 2011 and increasing to €963 million in 2012.[28]

In September 2013, Vestas made a joint venture for offshore wind

turbines with Mitsubishi Heavy Industries, including the 7-9 MW
Vestas V164, the most powerful turbine on Earth.[29][5][30][31]

In October 2013 Vestas sold its four casting and two machining
factories to VTC Partners GmbH.[32]

In May 2014, Vestas announced it would be adding hundreds of

jobs to its Colorado Windsor and Brighton facilities and following
a rough 2012 it called 2013 one of Vestas’s "best years ever".[33]
MHI Vestas factory beside the River
Vestas also added employees in Pueblo and expected the tower Medina, Isle of Wight, UK
facility to eventually top 500.[25] Vestas stated that it expected to
have 2800 employees in Colorado by the end of 2014.[34] As of
2016, Vestas has a US nacelle production capacity of 2.6 GW.[35]

In March 2015, Vestas announced it would be upping jobs by 400 at its blade manufacturing facility
in Windsor and stated "We had a very successful 2014".[36] In 2015 almost half of all Vestas turbines
were going to the American market[37] (nearly 3 GW for US out of 7.5 GW worldwide).[38] Vestas
intends to build a blade factory in India in 2016.[39]

In 2014 and 2015, 26 dishonest employees were detected with the company's whistleblower program
(the first in Denmark), and disciplined.[14]

In February 2016, Vestas got its largest order of 1,000 MW (278 x 3.6 MW) for the Fosen project near
Trondheim in Norway. It costs DKK 11 billion, and should deliver 3.4 TWh per year.[40]

In 1Q 2016, the average wind turbine price was 0.83 million Euro per MW, compared to 0.91 a year
before.[41]
In 2016, Vestas was voted number 7 on the Clean200 list.[42][43]

In 2019, MHI-Vestas received a supply and operations vessel for the Deutsche Bucht Offshore Wind
Project, with a further two ships scheduled for other projects.[44]

Research and development

Vestas spent €92 million ($128 million), or 1.4% 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.[45]

In October 2009, Vestas and QinetiQ claimed a successful test of a stealth wind turbine blade
mitigating radar reflection problems for aviation.[46][47][48][49]

In December 2010 Vestas were developing the V164 7 MW offshore turbine,[8] with a 164 m rotor
diameter. Prototypes of it were manufactured at Lindø (the former Maersk shipyard) due to size,
crane and port access requirements. Series production of nacelles for the 32 turbines (256 MW)
extension of the 90 MW Burbo Bank Offshore Wind Farm occurs at Lindø, while blades are made at
Vestas' Isle of Wight facilities[50][51][52] in England.[53] DONG Energy tested a prototype in the sea off
Frederikshavn in 2013, at a cost of DKK 240 million.[54][55] A V164 was installed for testing in
Østerild Wind Turbine Test Field in 2014,[56] later uprated to more power.

In June 2011, the Vestas supercomputer Firestorm was number 53 on the TOP500-list of the world's
most powerful computers[57] calculating worldwide weather in a 3x3 km grid, and it delivers daily
weather reports to the newspaper Ekstra Bladet[58] and similar purposes.[59] In 2012, Vestas donated
the older 1344-core supercomputer from 2008 to Aalborg University.[60]

In October 2011, Vestas participated in the deployment of a floating wind turbine offshore of Portugal.
Vestas supplied a v80 2.0 MW offshore turbine to Windplus, S.A. (a joint-venture company including
Energias de Portugal, Repsol, Principle Power, A. Silva Matos, Inovcapital and Portugal Ventures).[61]
The system, known as the WindFloat, consists of a semi-submersible type floating foundation, a
conventional catenary mooring, and the wind turbine. The successful deployment represents the first
offshore multi-megawatt wind turbine to be installed without the use of any heavy-lift or specialized
offshore construction equipment.

In 2012, Vestas scaled back and closed some of its R&D offices in Houston, Marlborough, Louisville,
China, Singapore and Denmark.[62]

In August 2013, Vestas started operating its 20 MW test bench for nacelles in Aarhus.[63]

On 5 September 2013, Dr. Chris Spruce, Vestas Senior Product Engineer, served as member of the
Scientific Advisory Board (SAB) for the kite-energy-systems project ERC HIGHWIND, a project at KU
Leuven dedicated to the research and development of tethered airfoils dedicated to generating energy
by airborne wind energy (AWE).[64]
In April 2016, Vestas installed a 900 kW quadrotor test wind turbine at Risø, made from 4 recycled
225 kW V29 turbines.[65][66][67] The first three months of testing confirmed theoretical models.
Vestas has no immediate plans of commercializing the prototype.[68] Test results were published in
2019, indicating lower costs.[69][70][71]

In September 2019, the company was announced as a principal partner of the Mercedes-Benz EQ
Formula E Team for their debut season.[72]

Vestas V126-3.45 MW guyed WindFloat, operating at rated

tower at Østerild capacity (2 MW), approximately
5 km (3 mi) offshore of
Agucadoura, Portugal

Vestas V112-3.0 MW in
Bavaria, Germany

Operations
As of 2019 Vestas has installed over 66,000 wind turbines for a capacity of 100 GW in over
80 countries on five continents.[73] As of 9 January 2019 the company has built production facilities
in more than 12 countries, among them China, Spain and the United States.[74] Vestas employs
25,000 people.[73]

See also
List of wind turbine manufacturers
List of renewable energy companies by stock exchange
Renewable energy industry
Wind power
Wind power in Denmark

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External links
Vestas (http://www.vestas.com)
Yearly accumulated orders, 2010-2014 (http://www.b.dk/upload/webred/bmsandbox/uploads/2014/
12/1e0cf7169be23315685eb7f61131b8b6.png)

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