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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Vestas Wind Systems A/S    VWS   DK0010268606


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Vestas Wind A/S : first to reach 100 GW of wind turbines under service, paving the way for more sustainable, cost-competitive, and reliable energy

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08/06/2020 | 03:05am EDT

News release from Vestas Wind Systems A/S
Aarhus, 6 August 2020
Renewables are on track to become the foundation of the global energy system, and the service of wind turbines is consequently playing an ever-increasing part in ensuring the sustainable, cost-competitive, and reliable energy supply we need to create a sustainable planet for future generations. With more than 100 GW of wind turbines under service, Vestas is, as the first company to reach this milestone, leading the renewable energy industry's efforts to replace fossil-based energy sources as the backbone of our society.

Achieving 100 GW of wind turbines under service is both a testament to Vestas' leading position within wind service solutions and the speed at which the installed capacity of wind energy and renewables is growing in the global energy system. As installed capacity has grown and continues to grow[[1]], Vestas' Service Business has scaled accordingly, which has seen Service evolve from a new business unit with a high potential in 2014 into a strong and highly profitable business unit today with an even more promising outlook. Today, Vestas services more than 47.000 wind turbines, including multibrand, and has around 10,000 dedicated service employees in a global network across 69 countries.

"Vestas has led the energy transition for the past four decades. Our current portfolio of 115 GW installations and 100 GW under service shows how far Vestas and wind energy has come", says Henrik Andersen, Vestas President and CEO. "As the current global pandemic has demonstrated, renewables are fast becoming a critical component of the global energy system as well as an important element in the green recovery of the world's economies. To this end, the service business plays an increasingly important role in ensuring a balanced and stable supply of energy to communities all over the world and in supporting a growing number of jobs globally".

"Reaching this milestone has been made possible through our strong collaboration with our customers and partners and is a testament to the dedicated work of the many service employees in Vestas. Using big data, analytics and digital tools enables us to create effective service solutions that optimise our customers' business cases and make wind power a reliable part of the global energy mix", says Christian Venderby, EVP for Vestas Global Service. "Service of wind turbines plays a crucial role in the global energy system and scale will continue to be critical to ensure the right value proposition for customers as the market moves toward merchant conditions and the focus on life cycle cost of wind power increases".

The successful proliferation of wind energy and other renewables are, however, creating new demands for the industry, and the successful transition away from fossil fuels requires equipment to deliver as expected and energy systems to remain reliable. To ensure that turbine blades keep turning and energy systems are running with an increasingly large share of renewables, Vestas is at the forefront of the digital transformation, data collection and analysis. More than 140 times a day, 27,000 turbines under Vestas service thus send performance data to Vestas' Performance and Diagnostics Centre. Through the effective use of digital tools and advanced forecasting systems, Vestas is able to deliver outstanding service and maintenance solutions both on turbine and system level as well as advanced digital analytics applications through its US based subsidiary, Utopus Insights.

With 100 GW under service, Vestas helps remove over a hundred million tonnes of CO2 every year from the atmosphere by providing reliable, sustainable and cost-effective renewable energy, meeting global energy needs without compromising our planet's wellbeing. Based on the global average of electricity usage, 100 GW of wind energy saves around 134 million tonnes of CO2 annually. This is equivalent to removing more than 90 million passenger cars from the road every year. 
For more information, please contact:
Kristian Holmelund Jakobsen
Communication and Press Officer
Mail: KRHJA@vestas.com
Tel: +45 5221 1467
About Vestas
Vestas is the energy industry's global partner on sustainable energy solutions. We design, manufacture, install, and service wind turbines across the globe, and with more than 115 GW of wind turbines in 81 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and more than 100 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas' more than 25,500 employees are providing global sustainable energy solutions to power a bright future.
For updated Vestas photographs and videos, please visit our media images page on: https://www.vestas.com/en/media/images.
We invite you to learn more about Vestas by visiting our website at vestas.com and following us on our social media channels:


· www.linkedin.com/company/vestas
· www.facebook.com/vestas    
· www.instagram.com/vestas    
· www.youtube.com/vestas

[1] By 2023, the world's total installed capacity is expected to have grown 39 percent since 2019 to around 830 GW with aging turbines older than 13 year making up more than 20 percent of the fleet.



(c) 2020 Cision. All rights reserved., source Press Releases - English

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Sales 2020 14 445 M 16 967 M 16 967 M
Net income 2020 581 M 683 M 683 M
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P/E ratio 2020 43,7x
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