Vestas

Partners

We work closely and openly together with our Partners. Each relationship to customers, suppliers, sponsorship-partners and other stakeholder are build on trust and honesty to create the future of sustainable energy solutions together.

View Vestas' track record

Our customers

Solutions that revolve around you

We work closely and openly with you to understand your business goals and how best to meet your needs, collaborating toward innovative long-term solutions.

Each customer and project is unique, which is why we take the time to understand your specific requirements, and then work with you to plan the most effective way to meet them.

Developing a wind power plant is a complex process involving multiple stakeholders, from insurance companies to financiers to regulators. We are well-versed in interacting with all these partners to ensure your project is delivered on time and on budget.

Vestas | Solutions that revolve around our customers

A continued dialogue with our customers

Our relationship with our customers means the world to us. We hold ourselves accountable to those values by measuring the strength of our overall relationship via the Net Promoter Score through our Customer Loyalty Survey. The results are collected annually, and we appreciate the feedback from more than 700 customers around the globe. The Net Promoter Scores indicate that Vestas is highly performing in its industry.

The Net Promoter Score for the wind turbine business declined from 39 to 37 in 2020, down from 47 in 2018 and 52 in 2017. For the service business, the Net Promoter Score increased to 39 in 2020 compared to 25 in 2019, 25 in 2018 and 28 in 2017. The results are driven by a strong response rate and representation in survey from all regions. Note that the Net Promoter Score has a scale from -100 to +100, meaning that our results indicate a high customer satisfaction and loyalty.

Measuring customer loyalty

Since 2007, Vestas has conducted an annual global Customer Loyalty Survey to provide concrete data for an active dialogue with customers, and to measure and improve how we meet our customers’ needs. In November 2020, 725 customers chose to participate in our annual Customer Loyalty Survey, representing more than half of those invited to participate. This shows a strong commitment to our partnership, and a valuable willingness to engage with us.

Vestas has implemented a feedback process allowing initiation of immediate improvements to start after a survey response is received. In the survey, customers are asked to report on areas that can be improved through cooperation with Vestas. Measuring customer loyalty will continue be a top priority for Vestas, and we see a clear trend between expressed loyalty and actual willingness to place orders with Vestas.

Quick Facts 2020

Vestas' Net Promoter Score for wind turbines:

Vestas' Net Promoter Score for service:

No. of customers:

725

Partnering

Meeting your needs

At Vestas we strive every day to deliver with our partners superior cost-effective wind technologies, products and services for you. Our mission reconfirms our persistent ambition of meeting customer expectations and our commitment to providing high-quality solutions throughout the entire value-chain of a wind project.

Every Vestas employee will cooperate with you throughout the lifetime of your project to bring you the highest return on your investment. We will be open and honest with you every step of the way, providing you with status reports and progress updates through a dedicated customer portal.

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Our capabilities

Providing the most predictable return on your investment

Our expertise involves more than just delivering wind turbines. We cover the entire life cycle of a wind power plant, minimizing our customers’ risks and increasing their returns. We work as a strategic business partner helping our customers from the moment they decide to invest in wind until long after the wind power plant has been commissioned.

Wind project value chain

Vestas | Providing the most predictable return on your investment

Wind project planning

Financing. Siting. Grid requirements. Local policy and regulations. You need to consider a wide range of crucial factors when you invest in a wind power plant. And not just at the planning stage, but for the whole lifecycle of the project.

1. Financing

One of the first steps in planning a wind power plant is to obtain financing for the project.

When banks consider the financing of a wind power project, they tend to focus on the underlying credit-worthiness of the project participants. That’s why it’s smart to choose Vestas. We’re a global organisation built on more than 30 years’ experience in the wind industry, with more than 51,000 turbines installed worldwide. In the eyes of lenders and investors, that makes us a reliable and trustworthy partner for your wind power project. We can contribute to the success of your financing by providing business case certainty through our proven technology and product reliability.

Banks prefer wind turbine suppliers that have a strong financial platform, as they look at how the supplier will meet potential warranty problems and honour availability guarantees. Again, partnering with Vestas will be a benefit. Although we do not offer financing ourselves, we can capitalise on our long-standing relationships with banks to help you bridge any potential ‘finance gap.' For instance, in the case of multilateral finance, we have a strong track record of working with EKF, the Danish Export Credit Agency, to facilitate insurance cover and finance for wind power projects.

Securing project finance

Project finance is expected to become increasingly important for bigger wind power projects. In today’s economic climate, banks and investors care about the return on their investment, as well as its certainty over the typical 20-year investment lifespan of a wind power plant. To guard against uncertainty, the financing of a project often depends on the turbine supplier offering schemes and committed services that add comfort and security during both the construction and operation phases of the project.

In the case of the construction phase, project finance can depend on the turbine supplier accepting turnkey responsibility. This is something that Vestas can take on. We can ensure that quality is consistent throughout delivery, thanks to our long-established relationships with reliable sub-contractors. And when it comes to the operation phase, we offer the high quality service and availability agreements, for example AOM 4000. These offerings provide a significant contribution to the bank's requirements for protection against downside risks, and strongly support creating business case certainty for investors.

It’s a solid combination of benefits that make Vestas the ideal partner for easing the finance process for a wind power project.

2. Grid Compliance

Support for grid code compliance
Grid codes specify the electrical performance and documentation that a wind power plant needs to gain connection to a grid. Demonstrating grid code compliance and achieving a grid connection agreement are therefore essential milestones in the development of a wind power plant project. This is where Vestas comes in.

How can Vestas help you connect to the grid?
We provide support in assessing and optimising the overall electrical configuration and performance of a wind power plant, so that the increasingly challenging requirements of grid connection are met.

We perform feasibility and transmission system impact studies, and we support the transmission system operators (TSO) with regards to grid connection agreements. We can also design and procure the most appropriate plant and grid connection equipment.

We have a strong track record with extensive experience in:

Developing and verifying power system simulation models for system impact studies
Validating stationary and dynamic performance on site
Designing wind power plant electrical infrastructure
Early prediction of performance and grid code compliance
Plant solutions involving advanced dynamic reactive power compensation solutions, and connection to weak networks
Grid code compliance testing

How is wind energy integrated in the grid?
Wind energy represents the most competitive renewable energy source and many countries have set ambitious targets for wind energy.

Renewable energy sources, like wind energy, create new challenges for electricity systems in terms of planning and operation. In addition, many transmission systems were constructed back in the 1970s and require substantial, technical updates and expansion to cope with the increasing percentage of renewable energy.

Vestas works actively to improve conditions related to system integration of wind energy. The aim is to ensure a grid well-suited for a non-fossil fuel future. Standardisation of grid codes, procedures, certification and documentation are examples of our efforts in this field.

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Procurement

Our knowledge and practical insights in procurement and supply chain management have been built up over three decades at the forefront of wind energy. We run our own test centres where our turbines are put through the most rigorous checks and tests, and we continuously capture the performance data from about 25,000 Vestas turbines around the world, helping us refine our development process for new and existing turbines, wherever the location and whatever the wind conditions.

1- Technology R&D

The complexity of wind turbines has increased dramatically in recent years. As one of the front runners in the race for technological advancement, Vestas recognizes the importance of advancing our product development while at the same time continuing our rigorous focus on product reliability.

At Vestas, our research is state-of-the-art. We’re continuously looking for better solutions and materials that will bring even more value to our customers and lower the cost of energy, both today and in the future.

We are committed to the rigorous testing of all our products and components, and all our test centres are at the leading edge of wind turbine technology. It’s here that we put our turbine components through the most rigorous testing processes, pushing them beyond their specification. In this way, we can identify and address any weaknesses before the product enters the market. We test components and systems as well as the whole product.

One such process is called Highly Accelerated Life Testing (HALT). During this process, components are put through stress tests like extreme fluctuations in temperatures combined with heavy vibrations.

Some other examples of tests are:

Component testing: where the gearbox is tested separately
Module testing: where the gearbox is tested in a bed frame with the main shaft
System testing: where the drive train is tested together with the cooling system
Product testing: where a turbine prototype is tested in real-life conditions

2- Manufacturing

Reliable component delivery – on time, every time
At Vestas, when we commit to something, we stick to it. With more than 30 years’ experience in the wind power industry, we know what it takes to ensure our business partners the best possible return on their investment – a reliable yet flexible global supply chain geared up to deliver the parts that we and our customers need, whenever and wherever they are required.

A proven supply chain:

Control systems and wind turbine assembly: 100% manufactured in-house
Generators: 100% manufactured in-house
Towers: 25% manufactured in-house
Transformers and gearboxes: 100% externally supplied

Quality assured – internally and externally
Whether we produce components in-house or through tried and trusted external suppliers, we have stringent policies in place to ensure they meet our high and exacting standards. All parts must be reproduced to validated design specifications. How do we achieve this? By identifying the critical processes for standardised production and carefully monitoring quality controls.

We use Six Sigma performance targets to ensure each component precisely matches designs.
We scrutinise each stage of the production process at component, platform, factory and process level.
We monitor Critical to Quality (CTQ) charts to identify any unacceptable variations and make corrections before defects occur.

Standardisation – control equals confidence
Our components operate to the highest performance standards for their entire 20-year design specification. How do we achieve this? We regulate and oversee all the processes during their manufacture. By closely monitoring the entire production chain we achieve two main objectives:

We ensure each component lasts as long as it should and performs at its maximum potential.
We increase the business case certainty for investors by avoiding unplanned failures and meeting performance expectations.

By maximising the number of critical processes under our control and minimising the variance between end products – in other words, producing components according to exact design specifications– we ensure high quality end products, time after time.

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Options & Solutions

Construction

The specific responsibility for tasks will vary from project to project. But what does not vary is our commitment to delivering the best possible wind energy project and our flexibility to meet your needs. Working as partners with you, we can provide everything from an all-inclusive package, where we supply, install and operate the plant, to simply supplying the turbines.

1- Scopes of supply

Effectively managing your project’s scope of supply is an important factor in minimising the risk. We have designed a number of flexible solutions for optimising scope of supply to meet every customer requirement.

During the construction phase, the wind power plant is built and connected to the grid. There is a huge number of tasks involved to ensure this happens efficiently and effectively, carried out by both the developer and Vestas.

Precisely who does what will differ from project to project depending on the risk profile. Working closely with the customer, we can provide everything from an inclusive package, where we supply, install and calibrate the plant, to simply supplying the turbines.

Scope of supply

Supply and supervision
Supply and commission
Supply and installation
EPC/Turnkey agreements

2- Transportation

What you need, when you need it
To get your investment off to a flying start, we at Vestas know that means delivering your products on time and at the expected high quality. With more than 30 years’ experience in the wind power industry, we know what it takes to meet our customers’ logistical needs:

Long-term supply partnerships: we have experienced supply partners and good relationships with regulatory bodies.
Customised transport equipment: our equipment has been developed with our supply partners to meet local planning constraints and to ensure that products leaving the factory in perfect condition arrive on site in perfect condition.

When choosing the right transportation options for your delivery, we aim to find the ideal balance between our three key considerations:

Quality - your turbine and/or components will arrive in the perfect condition you expect from Vestas.
Time - we will make sure you receive your products on time, every time.
Cost - we will find the cheapest transport option for you which takes into account the above two factors.

Quick Facts

No. of turbines shipped in 2012:

6.2 GW

Operation and services

You need to consider a large number of factors when operating a wind farm. It has to be serviced, it has to be managed effectively to get the most out of the turbines, you have to train people to operate it, and it has to be insured. We can help with all these issues, and more.

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Options & Solutions

Power plant optimisation

Prediction and prevention are the two cornerstones of our power plant optimisation services. We use cutting edge predictive and preventive maintenance techniques to identify potential problems before they arise – and then we take action to address them.

Monitoring

By using predictive and preventive maintenance techniques, we can identify potential problems before they occur and take action to address them, helping to reduce down time and optimise the yield for Vestas turbines worldwide.

Monitoring a fleet of more than 25,500 wind turbines (more than 47 GW) enables us to provide diagnostics-based predictive performance maintenance. In short, we can see problems before they affect a turbine’s performance and take preventative steps accordingly. When monitoring one turbine, data from all other wind turbines is used. This provides unique insights into how the turbine operates.

Our structured quality-orientated, Six Sigma problem-solving process is run from one central performance diagnostics centre in Denmark, and from local centres all over the world, including Hamburg and Beijing.

To the benefit of our customers, when we come out to a turbine to perform service or maintenance we come prepared with the necessary knowledge, tools and equipment. For example if a crane or particular piece of equipment is needed, we can order it in advance, minimising lead time waiting for delivery. By planning service visits during predicted low wind conditions, we can help to optimise the turbines’ yield.

Smart Data

Vestas uses smart data throughout its value chain, from product design and testing, siting, manufacturing to service and maintenance – all enabling our customers to lower their cost of energy, increase annual energy production and improve their business case certainty.

We have collected, analysed and utilised data from Vestas wind turbines since 1991 in to improve every aspect of the business, including product development, siting, services, and operations. Vestas took a big leap forward beginning in the mid-2000s, with major investments in our supercomputing analytics capabilities that included establishing the Vestas Diagnostics and Performance Centre in 2006, introducing the Firestorm supercomputer in 2011, and continuing today integrating an even more powerful new supercomputer.

These investments have contributed to creating the highly data-driven business we are today with an unmatched ability in the wind industry to create and utilise smart data to lower the cost of energy.

Vestas has the wind industry’s largest data library that builds on almost 75 GW of turbines we have installed in 75 countries. This unrivalled data pool includes more than 16 years of meteorological data from all over the world as well as information from 50 million sensors that send us turbine performance data every minute.

Every day, Vestas’ smart data capabilities help our customers lower their cost of energy, increase their annual energy production and improve their business case certainty.

1. Product design and testing.
At Vestas, product design and development utilise virtual simulation based on data to determine how our products react and perform in different conditions. This enables us to design and test our products in real-life environments before production and thus design better products and achieve our industry-leading quality, service offerings and 20+ years lifecycle.

2. Micro-siting.
Unique to the industry, Vestas can create visual weather maps to determine the best possible locations for the turbines; match them to the most appropriate turbine from our product portfolio, which covers all wind classes; and thus deliver the best wind energy solution for any site.

3. Manufacturing.
Standardising work processes across factories helps to optimise production and ensure product quality through critical-to-quality metrics (CTQs).

4. Maintenance.
Vestas’ smart data capabilities enable us to react instantly when witnessing any abnormalities, and power our predictive maintenance where we more accurately than anyone in the industry can forecast and mitigate the likelihood of major component failure before it happens. With smart data we move from preventive to predictive maintenance.

Smart Data

Our suppliers

Are you a supplier looking for partnership opportunities?

The current market conditions and fierce competition within the wind industry increases the need for Vestas to rely more on suppliers to deliver outstanding quality, innovation and flexibility. This is key in order to reduce waste across the value chain and deliver benchmark cost levels for our products and services.

We are always looking for new suppliers who can deliver high-quality products at the right time and price. If you can deliver high-quality products at the right time and at the right price, please contact us by filling out the Supplier enquiry web form.

Your inquiry will be sent to the appropriate sourcing representative who will contact you if he finds your product/services interesting for Vestas.

Contact us!

Vestas Global Procurement
Hedeager 42
8200 Aarhus N
Denmark
Phone: (+45) 97 30 00 00

Supplier enquiry web form >

Our Business Partner Code of Conduct

Leading our global behaviour – together

Vestas’ mission is to deliver best-in-class wind energy solutions and set the pace in our industry to the benefit of our customers and the planet. To achieve our mission, we are guided by our high standards on how we do business. We consider our Business Partners to play a key role in supporting our mission. To support our Business Partners in following Vestas’ standards, we have developed our Business Partner Code of Conduct and these Guidelines.

Our Business Partner Code of Conduct outlines the minimum requirements that our Business Partners shall respect and comply with when conducting business with Vestas. We include these minimum requirements in our contracts with Business Partners. These Guidelines provide guidance for our Business Partners on our minimum requirements.

- Download Vestas' Business Partner Code of Conduct

- Download Vestas' Business Partner Code of Conduct guidelines

- Third Party Social Media Guidelines

Invoice instructions for Vestas suppliers

To ensure prompt and timely settlement of your invoices, please read carefully the following requirements in English. If you wish to read the invoice instruction in other languages, please follow the links below:

Vestas is transitioning to fully digitalized procurement. This means that it may be required to submit a digital invoice created from our digital PO. This will be evident from the format and instructions included in our purchase order.

If local country requirements prohibit a digital or PDF invoice, a hardcopy invoice should be submitted instead.

Which address should I send my PDF or hardcopy invoice to?

Please see below the requirements and way to send your invoice according to the format used:

Digital invoices through Ariba Network

Mandatory requirements

Please send the invoice to POs received via Ariba through your Ariba account. Please make sure you only send us an invoice for the delivered quantity. If your invoice does not comply with these requirements it will be rejected and returned to you, or the payment delayed.

Your invoice must indicate:

an invoice number (reference)
date of issue
Tax or VAT rate (%) and your company’s Tax or VAT registration number
date of delivery
quantity invoiced per line

All other details will be copied directly from the Vestas PO and it’s not possible to update by the supplier.

Any extra delivery costs not included on the PO (such as packing, freight, etc.) must be communicated to the Vestas Buyer before submitting your invoice. Failure to do so may result in a delay in processing your invoice and payment.

Credit memos must relate to invoices already submitted via Ariba. The credit memo shall indicate a credit memo number (reference) and the reason for the credit.

Further information and detailed instructions >

Submitting your invoice
Only submit invoices related to Ariba POs via the Ariba Network. If you also send the invoice as a PDF copy by e-mail to our invoice mailboxes, it will be returned to you and will not be processed for payment.

Detailed instructions on how to submit an invoice via Ariba >

Invoice Status
All changes to the status of your invoice can be viewed in real-time in Ariba. You can also set up e-mail notifications for all invoice status changes using Ariba.

In case of issues
For support and assistance, please contact ariba.ssc@vestas.com

Payments & bank details
Please ensure your company’s payment details are up-to-date in your Vestas Ariba account.

Detailed instructions on how to review and update your details >

If the payment date falls on a non-working day, the following working day will be effective.

PDF invoices

Mandatory requirements

Please do not send your invoice unless it has been fully delivered. If your invoice does not comply with these requirements it will be rejected and returned to you, or the payment delayed.

Your invoice must indicate

“INVOICE”, or local language equivalent, in large letters in the header
an invoice number and the date of issue
a single purchase order reference
items or quantities shown on our purchase order
VAT, sales tax, GST or other tax amounts separately from the total amount
your company name, address and VAT registration number (where applicable)
Vestas ordering company address and VAT number (where applicable) exactly as on the purchase order
the same currency as our purchase order
the same item descriptions and prices as our purchase order
any Vestas material numbers on the purchase order
the corresponding lines on our purchase order

Credit notes shall reference only one invoice and shall indicate

“FULL CREDIT NOTE” or “PARTIAL CREDIT NOTE” in large letters
always indicate your contact person in Vestas
your original invoice number and, where applicable, our purchase order reference

PO exempted invoices
There are special circumstances where an invoice may be submitted without our purchase order reference. Your Vestas contact person will inform you prior to the start of deliveries if this will be the case. All requirements shown above are still valid except for purchase order reference and the purchase order line references.

Submitting your invoice
Please send your invoice or credit note to the mailbox shown on the Vestas purchase order. A full list of e-mail addresses for each Vestas ordering company can be viewed here.

To ensure that your invoice can be processed efficiently, please ensure that it complies with the following rules

PDF format - ZIP files and password protected files will not be processed
each PDF shall contain only 1 invoice or 1 credit note
do not send our Accounts Payable proforma invoices
do not include other documentation (e.g. conditions of sale) between invoice pages in a pdf.

In case of issues

your invoice status in the Vestas Supplier Invoice Status Portal >
all goods or services on the invoice are delivered
the invoice been sent to the correct mailbox complies to this instruction

Please use the Supplier Invoice Status Portal to raise any queries regarding invoice and payments instead of sending an e-mail to us directly.

Payments & bank details
Please notify us of any changes to your company’s payment details to your Vestas contact person well in advance of the actual change. If the payment date falls on a non-working day, the following working day will be effective.

Hardcopy invoices

Mandatory requirements

Please refer to that section for PDF invoices.

PO exempted invoices

Please refer to that section for PDF invoices.

Submitting your invoice

Please send you invoice or credit note to the postal address shown on the Vestas purchase order. A full list of postal addresses depending on the Vestas ordering company can be viewed here.

To ensure that your invoice can be processed efficiently, please ensure that it complies with the following rules

do not send our Accounts Payable proforma invoices
do not include other documentation (e.g. conditions of sale) between invoice pages in a pdf.

In case of issues

Before contacting us please check that

your invoice status in the Vestas Supplier Invoice Status Portal >
all goods or services on the invoice are delivered
the invoice been sent to the correct mailbox complies to this instruction

Please use the Supplier Invoice Status Portal to raise any queries regarding invoice and payments instead of sending an e-mail to us directly.

Payments & bank details

Please notify us of any changes to your company’s payment details to your Vestas contact person well in advance of the actual change. If the payment date falls on a non-working day, the following working day will be effective.

Supplier Quality Manual

Vestas´ mission is to deliver best-in-class wind energy solutions and to set the pace in our industry to the benefit of our customers and our planet. We set ambitious targets, and suppliers to Vestas have a key role in ensuring that we achieve these goals. Along with a strong focus on safety and sustainability, it is crucial that quality is built into our entire value chain and always prioritized to prevent any compromise on performance or reliability.

To support this mission, we have developed the Vestas Supplier Quality Manual. The purpose of this manual is to define a common framework of quality requirements and best practices which must be in place to ensure a successful and professional relationship between Vestas and its suppliers.

Our Partnerships

With our strategic partnerships we are taking our collaboration initiatives to the next level. The partnerships range from strategic awareness campaign to commercial partnerships.

#PoweredbyVestas: the Mercedes-EQ Formula E™ Team

We’re proud to be part of the action-packed world of Formula E™ as Principal Partner to the Mercedes-EQ Formula E™ Team. Together we’re driving key changes to our respective sectors and sharing our message that electrification is the future – proving that power and performance go hand-in-hand with sustainable energy.

With our Formula E partnership in its second season (Season 7), and after much disruption due to the global pandemic, our focus has turned to tangible partnership activities focused on three pillars: Meteorology, Innovation, and Sustainability.

In spite of the unprecedented set-backs, we have savoured success both on and off the track, with drivers Stoffel Vandoorne and Nyck De Vries securing race wins and taking to the podium on several occasions, as they compete on the race track at destinations around the world in the ABB FIA Formula E World Championship.

To learn more about the Partnership and how you can get involved, visit PoweredbyVestas.com.

Discover more >

Lenovo - More efficient Wind Turbines

Discover how Vestas teamed up with Lenovo, one of the world's largest personal computer vendors, to improve the performance and lower the cost of clean energy. See the inner workings a wind turbine and a 360° view from the very top of a turbine!

Discover more >

SAP - Turning Air into Opportunities

Sustainable energy can help transform lives, economies and the planet. In partnership with SAP, Vestas is making it possible to offer clean, affordable, and fossil-free energy.

Discover more >

LEGO - Vestas Wind Turbine Model

Developed in partnership with LEGO, this detailed, motorized LEGO model captures the elegance and graceful movement of a traditional wind turbine and features spruce trees, manufactured from sustainably sourced plant-based plastic.

Discover more >

Vestas Ventures

Vestas is the world’s largest wind turbine manufacturer with more than 132 GW of wind turbines installed globally. Furthermore, Vestas has the largest fleet of wind turbines under service worldwide, with more than 113 GW.

In order to achieve our long-term vision to become the global leader in sustainable energy solutions, we have seen further opportunities to invest into new innovations to make our products, services, capabilities and our value chain more sustainable. With additional challenges arising in the renewable energy sector, we will keep innovating close to our core business but believe it is time to take the next step in building a more sustainable future to improve and create value for our business and customers.

In 2015, Vestas broadens its vision to become the global leader in sustainable energy solutions. With increasing competition from Oil & Gas majors’ entry into the renewable energy value chain, a global acceleration of the green transition through direct and indirect electrification of industries took place. We are dealing with a complex energy system with greater need than ever to balance high penetration of intermittent renewables with increasing electricity consumption.

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About us

When Vestas started the collaboration with the Swedish startup Northvolt in 2017 to develop a lithium-ion battery, the way was paved for higher ambitions. This project enables Vestas to ensure more certainty and predictability in power output for greater grid stability and compliance with emerging grid requirements. After successful deployment, in 2019, Vestas partners with Mercedes Benz EQ Formula E Team, to power its race cars based on a Vestas containerized energy storage solution with Northvolt battery cells. To commercialize this offering, in late 2020, Vestas partners with OK where both companies established a turbocharger that will exclusively charger EVs using wind-sourced electricity only.

Vestas Ventures is the platform we developed to invest into external companies to challenge our status quo and achieve our long-term vision to become the global leader in sustainable energy solutions.

Our ambition

Vestas Ventures is founded in 2020 and is the corporate venture capital arm of Vestas Wind Systems A/S, the world’s leading wind turbine manufacturer.

Partnering with Vestas Ventures

We invest in start-ups with a high strategic fit to Vestas’ corporate vision and long-term strategy. Together with the founding team and co-investors, we identify areas of clear synergy, where Vestas Ventures can support the startup and create value for mutual benefit, while scaling the startup for success.

More than just capital

Investing cash for equity but also ensuring that you succeed by benefiting from our capabilities

Collaboration with the world-leading turbine Original Equipment Manufacturer (OEM)

Sparring and consulting with the leading experts in the wind industry on technology, commercialization and industrialization

Building strong relationships with university, corporate and industry partners.

Global reach

Industry Leader with more than 40 years of experience in the wind industry

Largest global installed base with more than 122 GW

Global presence in 82 countries

Pioneering in 39 countries

Sales and service offices in 34 countries

Manufacturing facilities on four continents

Global service provider with more than 108 GW and Multibrand capabilities of more than 8 GW

Technical expertise

Vestas’ production facilities span from Europe to North America, Latin America and Asia where our highly complex turbines are being manufactured and assembled. In our Research and Development centers, Vestas’ innovations are being engineered and constantly improved to keep our competitive advantage alive and pursuit our vision for a cleaner future.

More than 2000 highly skilled engineers work across the globe where innovations are being engineered and improved to keep our competitive advantage.

Largest test bench in the industry: +20 years of testing has ensured turbine performance in the field through maximizing output with optimal design

Extensive knowledge in developing turbines: Having developed +35 Mk versions of turbines across platforms, Vestas has extensive knowledge in testing and developing turbines

Sustainability in everything we do

Being an expert in Sustainability by leading the transition towards a world powered by sustainable energy leads us to invest in more than just wind.

We are driving electrification and decarbonization beyond the power sector to achieve our vision of becoming the global leader in sustainable energy solutions

Furthermore, we are actively scouting for new sustainable innovations that are in line with our defined focus area to support the energy transition

We are driving electrification and decarbonization beyond the power sector to achieve our vision of becoming the global leader in sustainable energy solutions

Furthermore, we are actively scouting for new sustainable innovations that are in line with our defined focus area to support the energy transition

Investment areas

In the pursuit of a greener future there are many challenges ahead of us, but most of all opportunities. We want to grasp those opportunities and therefore focus on the following four areas where we can create mutual value, that is in line with our core ambitions:

1. Long duration energy storage and flexibility solutions

This investment area is addressing the challenge of increasing intermittency in grids as more and more renewable generation capacity is installed on the distribution grids. Low-cost long duration energy storage is an attractive solution to mitigate grid imbalances and declining value of renewables by providing storage to offer dispatchable, renewable electricity. Energy storage management systems are supporting grid integration, value capture and additional revenue streams from e.g. offering grid services such as frequency regulation.

2. Power to X

By leveraging Vestas’ pioneering position with the renewable energy sector, we aim to be part of driving the green transition by providing commercially viable solutions to electrify and decarbonize industries and the transport sector. Vestas Ventures aim to invest in new technologies and solutions within Power to X to accelerate the green transition towards using hydrogen and e-fuels for the transportation sector and industries.

3. ‘High value’ generating wind solutions

This area addresses new, emerging wind technologies and solutions that either improve energy production, reduce losses or cut costs, in order to provide a stronger business case for our customers. Wind is at the core of what Vestas does. Venture investments is therefore another vehicle to mature new, commercially viable solutions to improve Vestas’ offerings to the market.

4. Sustainable and advanced materials for wind turbines

Scouting for and investing in the best sustainability startups will help Vestas achieve its sustainability goals by being carbon neutral by 2030 without the use of carbon offsets, and to produce zero-waste turbines by 2040. With Vestas’ recently announced ambitious sustainability strategy, there is a tremendous need for new, innovative solutions to support Vestas’ and the broader energy industry’s transition towards sustainable design, manufacturing and decommissioning of wind turbines. Advanced and innovative materials are key for reaching new levels of CO2-free manufacturing and high degree of material circularity, as especially turbine blades cannot be recycled today.

How we invest

Portfolio investments

Swedish developer and manufacturer of lithium-ion batteries for automotive, grid storage and industrial applications. Northvolt Ett, the company’s first Gigafactory powered 100% by renewable energy, will produce 16Gwh of battery capacity to be scaled up to 40GWh. In 2019, Northvolt raised capital from BMW, Goldman Sachs, Siemens, Scania and IKEA. Vestas has successfully engaged in several projects with Northvolt.

Swedish developer of patented wind turbine towers made from sustainably-sourced engineered wood products. The modular tower design allows for ease of transportation with an ability to increase HUB height while descreasing costs and CO2 emissions from wind turbine towers.

Vestas Ventures invested in Modvion, January 2021 to support and accelerate the deployment of sustainable Modvion towers.

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