Vestas selected for the Japanese government's supply chain investment program

SINGAPORE,July 22,2021 -- Vestas has been selected as one of the successful applicants for Japan's Ministry of Economy,Trade and Industry (METI) subsidy program,known as theProgram for Promoting Investment in Japan to Strengthen Supply Chains (Second Call).

Providing a total sum of JPY 209.5 billion,the program aims to strengthen the country's supply chainnetworks through supporting essential products,parts,and materials,and also minimize the risk of supply chain disruption due to COVID-19. The eligible products include green energy products such as offshore wind turbine parts and components.

In order to enhance the country's existing wind energy supply chain,Vestas plans to develop a manufacturing assembly facility in Japan under this program,subject to being selected by successful clients bidding in the upcoming annual auction,and the sufficient volume it brings each year. The facility would provide a module and assembly for offshore wind turbine nacelles,as well as a continuous improvement functionleveraging advanced manufacturing technology in Japan.

"Vestas is proud to be selected for this program and we arecommitted to partneringwith the Japanese government,customers and local industry to develop a sustainable offshore wind industry," said Purvin Patel,President and CEO of Vestas Asia Pacific. "Leveraging this program,we believe that our company's plans will enhance the country's supply chain,create green jobs,and contribute to Japan's net zero ambitions by 2050."

Out of 272 qualified applications,Vestasis one of the 151 companies that were selected through a rigorousscreening process. Vestas is one of 7 other applicants offering offshore wind energy solutions.

Depending on the demand and cost-competitiveness of Japan's wind energy market,working closely with MHI Vestas Japan Co.,Ltd. (the joint venture between Mitsubishi Heavy Industries,Ltd. and Vestas),Vestas will consider establishing other parts of its regional supply chain in the country.

Vestas held its inaugural Japan Suppliers' Day in April this year,strengthening its global supply chain footprint. The event aimed to continue advocacy for the country's promising supply chain.

About VestasVestas is the energy industry's global partner on sustainable energy solutions. We design,manufacture,install,and service onshore and offshore wind turbines across the globe,and with more than 132 GW of wind turbines in 82 countries,we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 117 GW of wind turbines under service,we use data to interpret,forecast,and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers,Vestas' more than 29,000 employees are bringing the world sustainable energy solutions to power a bright future.For updated Vestas photographs and videos,please visit our media images page on:

https://www.vestas.com/en/media/images.We invite you to learn more about Vestas by visiting our website at www.vestas.com following us on our social media channels:http://www.twitter.com/vestaswww.linkedin.com/company/vestaswww.facebook.com/vestaswww.instagram.com/vestaswww.youtube.com/vestas