Our Business Principles
On this page you can find information about our business - and governance model as well as our principles (policies) that guides os on our journey to become the global leader in sustainable energy solutions.
Our business model
Our vision is to become the Global Leader in Sustainable Energy Solutions. We believe in the power of renewables to ensure long-term energy security, and in building a more sustainable planet for future generations. By leading across our four business areas, Onshore, Offshore, Service, and Development, we aim to lead the energy transition forward.
Onshore
Vestas is the market leader with more than 40 years of experience in Onshore wind. Based on our own onshore wind turbine product design and devel op ment, we offer customers wind power solutions and we take care of everything from siting, manufacturing, con- struction, and installation to final commissioning in cooperation with our partners.
Offshore
Vestas is becoming a leading player in Offshore wind with almost 30 years of experience. Based on our own offshore wind turbine product design and development, we offer customers wind power solutions and we take care of all stages from siting through final commissioning.
Development
Development, our newest business area, helps our customers grow their business, which in turn generates order intake for Vestas. More than 100 employees across 15 countries secure land rights and permits, design sites, ensure grid connection, and secure project offtake agreements to create quality projects.
Service
Vestas is the global market leader in Service within wind power with around 15,000 employees across 77 countries. Our people service 149 GW for our customers on long-term subscription- based contracts leveraging our digital and AI capabilities.
We are driving the decarbonisation of the global energy system, and enabling prosperous and resilient societies through our three core business areas; Development, Power Solutions, and Service
We are proud to offer a solutions that address the climate crises, and build energy security
We are dedicated to strengthening energy systems as a global leader in sustainable energy solutions
Our Governance Principles
With the right strategy, business model and management, and with the right governance principles in place, we believe we can become the global leader in sustainable energy solutions.
To achieve our strategy and vision, it is essential we build strong foundations through our organisational principles and values.
We therefore emphasise leadership and good corporate governance to anchor and embed these values, which are: Accountability, Collaboration, Simplicity, and Passion. Underpinning everything we do, these values guide the actions we all need to take, individually and as one.
Solid foundations for management
To the Board, corporate governance is an ongoing process that supports value creation and accountable management, thereby contributing to the company’s long-term success.
To ensure our management’s responsibilities are clearly defined, we have drawn up a number of policies and guidelines. The Board and/or management annually review these documents to confirm we have the right governance processes in place.
Guidelines and processes
The Board is continuously vigilant of the guidelines and processes that are in place for the running of Vestas. This ensures that management has the necessary framework to be able to conduct business in the spirit of Vestas’ values.
Our policies & guidelines
To ensure our management’s responsibilities are clearly defined, we have drawn up a number of policies and guidelines. The Board and/or management annually review these documents to confirm we have the right governance processes in place.
Our Code of Conduct
At Vestas, we act with integrity in everything we do. This means making the right decisions when faced with difficult situations and ensuring that our actions match our values of accountability, collaboration, simplicity and passion.