Company Overview

Vestas installed its first wind turbine in 1979, and has not slowed down since.  The company’s core business includes development, manufacturing, sales, marketing and maintenance of wind power systems that use wind energy to produce electricity. Its turbines can produce from 850kW to 3MW, and Vestas has installed more than 35,500 turbines worldwide, both on land and offshore. The company gets more than half of its sales in Europe, but Germany, the US, Canada, China, and India are the company's biggest markets, and Vestas has strong market shares in Australia, Taiwan, South Korea, Denmark, the Netherlands, and the Czech Republic, as well.

Vestas acquired rival wind turbine manufacturer NEG Micon in 2004, bringing its global market share to about 35 percent. Its stated strategy is to supply customized wind power systems at the most competitive price. It also produces components, and it can deliver individual turbines or full wind power systems. The company is focusing on improving its profit margin instead of growing through acquisition.

The global market share of Vestas declined to 28 percent in 2006, and then fell further in 2007 to 23 percent, partly due to the emergence of Chinese competitors. However, Vestas still remains the world's leading supplier of wind power solutions.

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