New technologies puts wind in the blades
New technology increases the efficiency of wind energy around the world - and Vestas merges with NEG Micon to become the undisputed world-leader in modern wind energy. Producing turbines is now only part of Vestas' offerings. Transporting and installing turbines is also a huge operation – it takes 10 specially designed trucks to transport one turbine.
1999 New models drive energy efficiency
Responding to increasing demand from growing markets, Vestas introduces the V80-2.0 MW wind turbine. The new turbine features the OptiSpeed® system, developed specially for areas with low wind speeds. The V80-2.0 MW is still in Vestas’ portfolio today.
2000 The largest order to date
Vestas receives the world’s largest ever wind turbine order: 1,800 turbines for the Spanish energy giant Gamesa Eólica S.A. In November, Vestas offers shares to its employees. More than 80 percent of eligible employees choose to take up the offer. And why not? The global market for wind power has grown by around 4,500 MW of newly installed capacity - and Vestas has supplied approximately 26 percent of the installed capacity throughout the world.
2001 The world’s largest offshore wind farm
Vestas is selected for the first large offshore wind farm in the North Sea, the Horns Reef project in Denmark. Eighty of Vestas’ new V80s will supply power to about 150,000 Danish households. In the spring, Vestas also signs its first contracts in Costa Rica and Iran. A number of new markets are also showing positive signs of growth, including France, Portugal and Poland.
2002 The end of Mr. Vestas and trouble at sea
Johannes Poulsen, Managing Director for 15 years, retires on 18 April. Svend Sigaard takes over. Vestas installs 80 turbines at Horns Reef, erecting the final turbine 11 days ahead of schedule. But as none of the turbines work properly 80 nacelles are taken back for repairs. It’s an expensive lesson – but once again, Vestas proves that it will always deliver what it promises, however challenging. Despite the setbacks, the project establishes Vestas as the leader in offshore wind energy.
2003 The V90 improves competitiveness
One of the company’s major goals is to bring down the cost per KWh of electricity. Vestas launches three new turbine types: V90-1.8 MW, V90-2.0 MW and V90-3.0 MW. The V90 turbines improve the efficiency of wind power - and make it more competitive compared to other energy sources.
2004 Mergers and new management
Vestas and NEG Micon merge and the two Danish wind energy giants become the undisputed world leader in the wind power industry with a 32 percent market share.
In October, Managing Director Svend Sigaard resigns. Despite recording a loss for the year, Vestas finishes December with a 34 percent market share and announces forecasted sales of EUR 2,561 million.