Vestas launches Wind for Prosperity in collaboration with Masdar

“Many of the world’s most underserved citizens rely primarily on diesel generators for what power they have, which is expensive and polluting.  Wind for Prosperity uses Vestas’ unique weather data processing capabilities to identify energy-poor but wind-rich areas where Vestas’ wind hybrid solutions can power social and economic growth," says Morten Albæk, Vestas Group Senior Vice President and CMO.  

Wind for Prosperity is an innovative, commercially-based business model to bring affordable and reliable electricity to rural populations that currently lack it.  Anchored on wind power technology, Wind for Prosperity creates an opportunity for business, government, and financial institutions to combine their talents to improve people’s lives and generate risk-adjusted returns for private investors.

Adds Albæk, As one of the biggest corporate initiatives to combat energy poverty and deploy green technology in developing countries, Wind for Prosperity is a triple-win – generating growth, reducing pollution, and doing both profitably.”

“Sustainable Energy for All is about public-private-partnerships,” says Kandeh Yumkella, the United Nations Secretary-General’s Special Representative and Chief Executive. “We need new and good technologies to help the energy poor access clean, reliable, affordable and modern energy services to manage their everyday lives. If good technologies can’t be financed, an energy revolution is impossible. Vestas’ Wind for Prosperity will help transform lives and communities.”
 
Masdar, Abu Dhabi’s renewable energy company, strongly shares the vision behind Wind for Prosperity and will focus on managing the development and construction of Wind for Prosperity projects; while Vestas will focus on wind-mapping, site design, and sourcing and refurbishing wind turbines. 

“Addressing the lack of access to clean, reliable and affordable energy services for billions of people is one of the world’s most critical development challenges and is becoming increasingly prominent on the international agenda,” says Mohamed Al Ramahi, Masdar’s Chief Operating Officer. “For the last 40 years, the United Arab Emirates has been committed to helping countries achieve economic growth and introducing technology that allows access to energy. Wind for Prosperity is aligned with Masdar’s mission to work on the introduction of sustainable energy solutions.”

Wind for Prosperity combines robust, factory-refurbished wind turbines with advanced diesel power generation to create hybrid systems that are well-suited to operate on mini-grids in remote locations with limited infrastructure.  These Vestas turbines are easy to transport and erect; they have a proven track record and are easy to maintain.  

The first Wind for Prosperity projects focus on up to 13 Kenyan communities that are home to more than 200,000 people.  These projects – being planned in coordination with the Kenyan Ministry of Energy, Kenya Power and Light Company, and various government agencies – are expected to supply electricity at least 30% below the current cost of power production based on diesel only.  Frontier Investment Management is actively involved in developing the Kenyan opportunity and together with Vestas is exploring potential Wind for Prosperity projects in other African countries.

Wind for Prosperity aims to install the hybrid power generation system in 100 communities reaching at least one million people in the next three years.  Additional opportunities are being explored in countries such as Ethiopia, Tanzania, Yemen, Pakistan, Vietnam, and Nicaragua.

The Wind for Prosperity launch event takes place:

Tuesday, November 26, 3:00 pm; with reception to follow
Japan Society
Lila Acheson Wallace Auditorium
333 East 47th Street, New York, NY

The program includes:

Moderator:
Jose Maria Figueres, President, Carbon War Room

Speakers:
• Olabode Esan, Head of Special Projects, Masdar
• Jeffrey Sachs, Director of the Earth Institute and Professor of Sustainable Development at Columbia University
• Michael Liebreich, CEO, Bloomberg New Energy Finance
• Georg Kell, Executive Director, United Nations Global Compact
• Kim Gredsted, Partner and Investment Director, Frontier Investment Management
• Ambassador Ib Petersen, Permanent Representative of Denmark to the United Nations
• Representative of the Kenyan government (TBC)
• Morten Albæk, Group Senior Vice President, Vestas Wind Systems A/S
• Sir Richard Branson, Entrepreneur, will address the audience via a pre-recorded video message.

For more information on Wind for Prosperity:

Vestas:
Michael Zarin, Head of External Communications
Mobile: +45 4084 1526
Email: mizar@vestas.com

Masdar:
Omar Zaafrani, Head of Communications
Mobile: +971 2653 0055
Email: ozaafrani@masdar.ae