Vestas, the global leader in sustainable energy solutions, introduces Covento, a digital platform providing a marketplace to efficiently connect buyers and sellers of parts and services from across various renewable energy technologies. Through Covento, Vestas aims to transform a fragmented renewable aftermarket into a simplified and connected digital journey. By creating a space for players across the renewable landscape to easily connect and collaborate, Vestas’ goal is to establish a stronger foundation for the renewables industry to build scale.
Covento will be directly addressing the renewable aftermarket, which consists of supply chain and commercial transactions that take place during operations and service. The platform will list products and services from both Vestas and third-party sellers and will facilitate the delivery of goods from both Vestas and third-party suppliers. Buyers and sellers will gain access to one digital platform, where all parts and service needs can be met, and where it is possible to sell to the entire industry. Covento will therefore remove complexity, and create efficiency and transparency across operations and service transactions.
Christian Venderby, Vestas Executive Vice President of Service, says “If renewables are to fulfill a central role in the global energy system, it’s crucial for buyers and sellers across the renewable landscape to adapt to a more transparent, and digitally-enabled aftermarket environment. Covento will be an important step forward in shaping this environment, and ultimately maturing the commercial landscape around renewables. By creating a digital space for buyers and sellers to connect and collaborate, we can yield digital insights to deliver an improved user experience, and support new renewable technologies to enable scale.”
Building on a foundation of more than 120 GW of turbines under service, and 140 GW of installed capacity, Vestas is leveraging its extensive expertise and global network to deliver a unique customer experience to users of Covento Through Covento, Vestas will be moving into the facilitation of parts and services beyond wind energy, eventually supporting a broad range of renewable energy solutions and technologies as new markets and users are added.
Overall, Covento will see Vestas orchestrating an adaptable platform, capable of supporting new sales models and commercial pathways for vetted buyers and sellers. This will in turn enhance the value of the renewable aftermarket, currently forming a multi-billion-euro segment of the renewable commercial landscape, and allow buyers and sellers to easily access this potential for value capture.
Schneider Electric, the global provider of energy and automation digital solutions and future seller on the Covento platform, commented on the news. Philippe Delorme, Executive Vice President, Energy Management, Schneider Electric says: “Congratulations to Vestas for pioneering with an ambitious new platform and business model that not only accelerates the reach for key players but also ignites new levels of innovation for renewables aftermarket. Schneider Electric is delighted to take an active role in the new marketplace as it allows us to further expand our business relationship with Vestas and the full renewable industry.”
Vestas aims to launch Covento in selected countries on the European market later this year and will be expanded to the USA and Canada in 2022, along with other regions across the world in the near future. Covento will eventually replace Vestas’ existing eCommerce platform, Shop.Vestas.