Download presentation
Presentation is loading. Please wait.
Published byBarrie Robertson Modified over 9 years ago
1
VESTAS Best in France // Casestudy 2009 Andreas Becker & Jens Riis Andersen
2
Agenda I.Introduction to Vestas II.Global Wind Energy Market (+ French Market) III.Vestas in France & Process of Adaptation IV.Vestas’ Advice V.Key Takeaways HEC School of Management, Paris
3
Agenda I.Introduction to Vestas II.Global Wind Energy Market (+ French Market) III.Vestas in France & Process of Adaptation IV.Vestas’ Advice V.Key Takeaways HEC School of Management, Paris
4
Introduction to Vestas HEC School of Management, Paris World’s largest maker of turbines 23% market share 38,000 wind turbines in 62 countries on five continents One wind turbine every three hours Generation of more than 60 million MWh of energy per year
5
Introduction to Vestas HEC School of Management, Paris Total employees of 21,259 Revenues of EUR 6.0bn Return on invested capital of 34.1 per cent Market capitalization of EUR 11.3bn 60 per cent international investors
6
Internationalization of Vestas HEC School of Management, Paris 1979: First wind turbine in Denmark and start of booming wind energy. 1980 - 1999: Restructuring and large sell-off of business units followed by an expansion across Europe, USA and parts of Asia (India). 2000 : Development of new markets including France and China. 2002:Opening of a first branch in Montpellier (2002) and 8 maintenance centers across France. 2009: Office opens in La Defense, Paris in order to service growing French market.
7
Agenda I.Introduction to Vestas II.Global Wind Energy Market (+ French Market) III.Vestas in France & Process of Adaptation IV.Vestas’ Advice V.Key Takeaways HEC School of Management, Paris
8
Global Wind Energy Market HEC School of Management, Paris
9
Global Wind Energy Market HEC School of Management, Paris
10
Global Wind Energy Market HEC School of Management, Paris
11
French Wind Market HEC School of Management, Paris Biggest players: Nordex, Vestas, Enercon & Repower C4 concentration is 80% Nordex is the biggest player and has been in France the longest First areas to be used was around Marseille. Political focus on developing in around Paris and the Loire river CAGR: 20%
12
Agenda I.Introduction to Vestas II.Global Wind Energy Market (+ French Market) III.Vestas in France & Process of Adaptation IV.Vestas’ Advice V.Key Takeaways HEC School of Management, Paris
13
Vestas in France HEC School of Management, Paris 175 employees Based in Paris & Montpellier (incl. 8 regional centers) 408 turbines with an installed capacity of 735 MW 25% market share Production of foundation & towers outsourced. Blades and turbines imported from Italy, Spain, Germany and Denmark
14
Worries Coming to France HEC School of Management, Paris Governments inability to commitment Ability to expand at the pace required Ability to unite different values (DK Vs. FR)
15
HEC School of Management, Paris Informal, English Formal, French Line, equality Hierachy, elite Individualistic, pragmatic Authoritative, theoretical Cross Cultural Risk Framework Danish culture French culture
16
Uniting Cultures HEC School of Management, Paris Danish culture: I.Flat hierachy II. Consensus French culture: I. Hierachy II. Passion & willpower for business Getting the best from both worlds I. Explain the Danish the French system II. Use the strengths of the Scandanavian culture
17
Regulatory is King HEC School of Management, Paris Regulatory stability 30 different authorizations Difficult to understand all layers Political commitment >> Easy procedures (HARD) Lobbying activities Ability to unite different values (DK Vs. FR)
18
Adapting the Cost Structure HEC School of Management, Paris Paris prices, French prices Salaries (Lower in France) Performance Appraisal Biggest problem is communicating the differences to Denmark (Paris is NOT France)
19
Human Resources Challenges HEC School of Management, Paris Attracting young and talented people Academic relationships Role of the leader French culture
20
Importance of French Presence HEC School of Management, Paris People Business (Selling process) “We do not sell our products on a website” Regulatory Environment Gain Local Expertise Market Growth In 2020, 23% of energy must come from renewables
21
Agenda I.Introduction to Vestas II.Global Wind Energy Market (+ French Market) III.Vestas in France & Process of Adaptation IV.Vestas’ Advice V.Key Takeaways HEC School of Management, Paris
22
Advice from Vestas HEC School of Management, Paris Before coming to France Particularities of the country i.e. use consultants, lawyers etc. Adaptation process Biggest mistake is to impose local structure Study failures and the incapacity to understand local constraints
23
Agenda I.Introduction to Vestas II.Global Wind Energy Market (+ French Market) III.Vestas in France & Process of Adaptation IV.Vestas’ Advice V.Key Takeaways HEC School of Management, Paris
24
Key Takeaways HEC School of Management, Paris World’s largest maker of turbines 175 employees in France (Paris, 2009) Growth potential of French market by feed-in tariff system Getting the best from both worlds (DK+FR) People Business “Relationships are KEY”
25
We Thank HEC School of Management, Paris Mr. Nicolas Wolff CEO, Vestas France Mrs. Marylen Schmidt Communication Director, Vestas France
26
Bibliography HEC School of Management, Paris References www.vestas.com Vestas shareholder information, 2009 “Wind-power giant keeps to its course”, WSJ 6th May 2009 World Wind Energy Report 2008, WWEA Economist WSJ
27
Q & A
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.