For more than 30 years, Vestas has operated in the field of wind power. With 55 GW of installed capacity and installations in over 70 countries, Vestas is the world’s leading and most global manufacturer of wind power solutions.
In the years ahead, as wind will come to represent a growing proportion of the combined energy supply, Vestas must consolidate its position as the leading brand in renewable energy in a market characterised by intense competition.
Vestas is determined to keep bringing down the cost of wind energy to ensure business case certainty for our customers and prove wind to be a competitive energy source. This is the idea behind our vision of “Bringing Wind on par with Oil and Gas”.
This vision, our mission “to deliver superior cost-effective wind technologies, products and services”, our willpower, and our promises to customers, shareholders, employees, and the society will guide us towards a joint purpose that will translate into results for our stakeholders.
Operating business model
Vestas’ operating business model supports our commitment to our two main revenue streams – wind turbines and service solutions – and shows our commitment to wind throughout the product life cycle.
The overall ambition for Vestas is to increase profitability and cash flow generation without compromising our leadership position within technology, quality and service. In order to support this ambition, we are continuously optimising our organisation and operating business model to best meet the requirements of our stakeholders.
Like most other infrastructure projects, wind is facing various short-term barriers, but the long-term drivers for wind power remain intact. In response to the volatile market for wind energy, Vestas is building an organisation which is agile, flexible, scalable and lean and which is able to execute efficiently on our operating business model.
The main focus for the operating business model is to reduce cost and investments while improving the utilisation of our capacity. We will do so by persistently striving to deliver as promised in terms of:
- Operational excellence
- Asset light solutions and simplified product road map
- Strategic partnerships and increased outsourcing