The prize celebrates innovation, leadership and achievement of concrete results in the field of renewable energy.

Chairman of The Zayed Future Energy Prize jury Dr R. K. Pachauri said that Vestas had received the prize after fulfilling its three criteria, namely innovation, leadership, and long-term vision.

Dr Pachauri said Vestas had become one of the pioneers in the wind power industry despite the fact that it was established in a small country, and that the company had demonstrated “considerable leadership despite numerous obstacles through the company's 31-year history.”

Half of the $US1.5 million prize received by Vestas was donated to the newly-established non-governmental organisation, WindMadeTM, which was founded by Vestas together with the United Nations' Global Compact, World Wildlife Fund, Global Wind Energy Council, Bloomberg, LEGO and PricewaterhouseCoopers. The remaining prize money was equally divided between those placed fourth, fifth and sixth in the final category.

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Last year the prize went to Toyota for the third generation of the fuel-efficient hybrid Prius.

Vestas recently supplied and installed the Waterloo Wind Farm in South Australia with 37 Vestas V90 3 megawatt (MW) turbines for a total maximum generating capacity of 111 MW.