First published on the Cleantech Investor website, January 2011. Copyright Cleantech Investor Ltd. 2011.

2010 was a tough year for Vestas shareholders. The world’s largest wind turbine manufacturer saw its share price collapse as Chinese competition took its toll (see lead feature in the January issue of Cleantech magazine: Wind: Powering Emerging Economies).

However, Vestas has kicked off 2011 on a high note: the company has been recognized by Abu Dhabi as the winner of the Zayed Future Energy Prize, in recognition of: “its outstanding leadership to pioneer wind energy, even during periods where demand for renewable energy waned.”

Vestas follows in the footsteps of last year’s winner, Toyota Motor Corp. for the first mass-produced hybrid car – the third generation Toyota Prius. Vestas has been commended for its track record in evolving Denmark from a country with limited resources of energy to a global leader over the past 30 years, through the promotion of wind power as a mainstream energy solution. The company’s long-term vision was commended: demonstration of the ability to scale up – and for its outstanding contribution to the renewable energy industry.

The award includes a prize of US$1.5 million. Vestas President and CEO, Ditlev Engel, has reportedly split the prize between WindMade Initiative, which is developing a consumer label to identify corporations and products made with wind energy, and other prize finalists.

Runners up for the Zayed Future Energy Prize incuded Amory B. Lovins, Chief Scientist of the Rocky Mountain Institute (for his work on an “integrative design” methodology for energy efficient buildings, vehicles and factories) and E+Co, a company which invests in small scale clean-energy enterprises in developing countries.

Other shortlisted nominees included Barefoot College, an Indian college which trains women in rural areas in solar energy development; First Solar, a thin film solar module manufacturer; and Terry Tamminen, CEO and Founder of 7th Generation Advisors, for his work in developing renewable energy solutions in California.

The Prize, presented by His Highness General Sheikh Mohammed bin Zayed, was created to reflect the vision of the late Sheikh Zayed bin Sultan Al Nahyan, the founding father and the first President of the UAE. The selection committee is chaired by Razan Al Mubarak, Managing Director, Emirates Wildlife Society, WorldWide Fund for Nature and members of the committee include Dr. Tariq Ali, Former Vice President for Research & Industry Relations at Masdar Institute and Mika Ohbayashi, Scenarios & Policy Regional Manager; International Renewable Energy Agency “IRENA”.