It was with a sense of ambiguity that Ditlev Engel, CEO of the Danish wind turbine manufacturer Vestas Wind Systems, gave his speech at the annual meeting of the Confederation of Danish Industries in 2007. On the one hand, he saw the annual meeting as a unique opportunity to propagate key messages about Vestas and its global role in defining modern energy. On the other hand, he found himself in front of an audience with backgrounds in various industrial companies, companies that had characteristics different from those of Vestas. He pondered whether they fully grasped the dynamics of the wind industry and the global challenges facing Vestas. Of course, Vestas enjoyed the attention and interest it received from business practitioners, the political community, and the general public. In fact, it was one of the most traded stocks on the Copenhagen Stock Exchange and had a relatively large number of private investors as shareholders. Within the Confederation of Danish Industries, it was regarded as one of the crown jewels with respect to technology and know-how. However, while it acknowledged its affiliation with those companies within the Confederation, Vestas’s self-understanding, mindset and modus operandi were more similar to those of IT companies. These companies typically operated with growth scenarios of 30 percent per annum and swift decision-making processes. Touching upon this dilemma in his speech, Engel explained:

Despite politicians’ receptiveness and sympathetic attitudes, Vestas did not always feel that they fully understood the big picture. When the Australian government announced its refusal to raise the mandatory renewable energy target (MRET), which was initially designed to support industrial growth, wind power advocates argued that billions of dollars in potential investment would evaporate. Vestas, for example, would reconsider its plans to build a turbine blade manufacturing plant in Tasmania, a multimillion dollar investment. Another example involved its application to install a number of test turbines off the Danish shore. The offshore market was a strategic priority but the turbines needed further testing prior to large-scale market penetration. When referring the issue to a committee, politicians had discussed it animatedly. However, as of spring 2008 no defining decision had been made, which stretched Vestas’s patience.