1990: Weight reduction and giant orders
In addition to increasing sales figures, Vestas distinguishes itself with a formidable technical achievement significant to the appearance, performance and price of the turbines – Vestas successfully manufactures a blade for the new V39-500 kW turbine where the weight is reduced from 3,800 kg to 1,100 kg.
1990 sees the largest order placed with Vestas for wind turbines to date. 342 V27-225 kW turbines are erected at Sky River northeast of Los Angeles, California.
1991: Breakthrough year and turbine number 1,000
Vestas' breakthrough year, where sales increase by 35 per cent to DKK 631 million. In November, Vestas 1,000th turbine is erected in Denmark. Vestas Wind Systems A/S becomes the first wind turbine manufacturer to receive ISO 9002 certification. Certification ensures that all production procedures follow a preset plan and that the final product is of a uniform and high quality.
1992: Rule Britannia
In 1992 the UK market shows the greatest expansion of all Vestas markets. A total of 89 Vestas wind turbines with a total capacity of 30 MW are installed in England, of these 23 WD 34-400 kW turbines on Ovenden Moor.
Vestas Wind Systems A/S expands with subsidiaries Vestasvind Svenska AB in Sweden and Vestas – American Wind Technology, Inc. in the USA.
1993: Political support triples sales
Political support for wind energy in Germany helps Vestas Deutschland GmbH triple its sales. The facilities in Husum are expanded by 750 m2. In Denmark too, the growth means expansion in administration as well as production. Large turbines and large wind turbine parks make it important for Vestas to supply turnkey projects.
1994: Growth and Spanish joint venture
At the end of 1994, Vestas Wind Systems A/S employs 765 people. The growth continues and 1994 becomes yet another record year with a pre-tax profit of DKK 41 million. But Vestas can also feel the increasing competition from other wind turbine manufacturers and notes a slight drop in its market share both in Germany and in the USA.
The development of the V44-600 kW turbine is completed. There are two new exciting features on the turbine: OptiTip®, which minimises the stress on the turbine blades, and OptiSlip® which provides an even electrical output to the network.
As part of an extensive consolidation, Vestas takes over Voelund Staalteknik A/S in Varde, Denmark.
In Spain, Vestas Wind Systems A/S, in collaboration with the Spanish group Gamesa and development company SODENA, establishes a joint venture company – Gamesa Eolica S.A., with Vestas Wind Systems A/S holding a 40 per cent share. The merger results in an immediate order of six V39-500 kW turbines from electrical company Energia Hidroelectrica de Navarra S.A.
1995: Restructuring and Tunoe Knob
A year with major restructurings within Vestas. In Videbæk, between Herning and Ringkøbing, in Denmark, 15,000 m2 of production and administration facilities are leased to be used as a purchasing, warehouse, assembly, distribution and service centre.
In Spain, where Gamesa Eolica S.A. has great successes selling Vestas technology, the local production of towers is established. On the technology front, Vestas erects a 1.5 MW turbine at Tjæreborg. As a new feature, this wind turbine has individual pitch regulation on all three blades, increasing both safety and durability when the blades run at maximum speed.
The really big event – and challenge – for Vestas in 1995 is the construction of the offshore wind turbine farm Tunoe Knob in the Kattegat, southeast of Århus, Denmark. The project is completed in collaboration with I/S Midtkraft which handles the foundations, while Vestas handles the assembly of the wind turbines. After the foundations are laid, Vestas takes over the project and in just five days the 10 units of V39-500 kW wind turbines are in place.
The wind turbine industry receives support from an unexpected source when the International Atomic Energy Agency determines that wind power, all things considered, will be fully competitive with both fossil fuels and nuclear energy no later than 2010.
1996: Medal of Honour to Vestas and Spanish fairy tale
Vestas is awarded the King Frederik IX's Medal of Honour for meritable achievements in Danish export.
China and India are promising new markets with 56 and 63 units of V42-600 kW turbines sold respectively, and Vestas Deutschland GmbH manages to increase Vestas' market share in an otherwise declining market. Spain, the country to show the best results, however. actually does so well it is called “the Spanish fairy tale”. Gamesa Eolica S.A. delivers 130 units of V39-500 kW turbines, and an agreement is reached with Energia Hidroelectrica de Navarra S.A. for delivery of 107 MW before December 2000 – an agreement that Gamesa Eolica S.A. expects to deliver before April 1997.
1997: Largest Danish wind turbine project
With increases in MW sales of 24 per cent - from 303 MW in 1996 to 383 MW in 1997 – there is good reason for optimism at Vestas. Vestas introduces two new types of turbines: The V47-660 kW and the V66-1.65 MW.
The largest wind turbine project to date on Danish soil is completed at Klim Fjordholme in Thy when Vestas, in collaboration with A/S Nordjyllandsværket, erects 35 units of V44-600 kW turbines. The wind farm is to supply electricity to 10,000 households.
1998: Stock exchange listing and success in Italy
Vestas goes public and its shares start trading on the Copenhagen Stock Exchange. The purpose is to acquire capital for continuing growth in all markets, which, for example, requires new facilities for glass fibre production and assembly. With a share of 22.1 per cent of the world’s wind power (measured in installed MW as of 13 December 1998) Vestas is the industry’s dominant player. Sales increase by 45 per cent and pass DKK 2.8 billion.
After two years of preparation, Vestas Wind Systems A/S establishes a joint venture in Taranto, Italy in partnership with Wind Energy System Taranto S.p.a. The company ends the year with sales amounting to DKK 258 million, despite the fact that the company is in a startup and training phase.
1999: New blade factory and sales increase of 131 per cent
The important markets grow and blade production capacity is soon insufficient. Vestas therefore decides in February to build a new blade factory in Nakskov, Denmark, where the access is good for land and sea transport and skilled labour is available. Building begins in the summer and the first 32-metre blades are manufactured in the new facility on schedule in December.
In the autumn Vestas introduces a V80-2.0 MW with Optispeed® that has been specially developed for areas with low wind speeds.
Vestas takes over the electronics company Cotas Computer Technology A/S in Århus, Denmark. Cotas has been the main supplier of software and components for turbine controls at Vestas for many years.
The year ends as well as possible for Vestas with sales totalling DKK 4.7 billion. The surplus amounts to DKK 597 million – an increase of 131 per cent compared to the previous year. On 20 December Vestas is listed on the prestigious Copenhagen Stock Exchange Index (KFX) that comprises the 20 most highly traded stocks in Denmark by volume. The demand for wind technology continues, and Vestas is the stock that shows the greatest price increase for the year.