Vestas, Mitsubishi Finalize Offshore Joint Venture

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Final closing of the joint venture between Vestas and Mitsubishi Heavy Industries (MHI), dedicated to offshore wind power, has now taken place. The new company, MHI Vestas Offshore Wind, has 380 employees and is headquartered in Aarhus, Denmark.

Following the approval from all relevant authorities, MHI Vestas Offshore Wind has been formally established as of April 1. The joint venture is responsible for the design, further development, procurement, manufacturing, installation, commissioning and service related to the V164-8.0 MW turbine as well as all marketing, sales and after-sales service related to offshore wind. Vestas and MHI have transferred a total of 380 employees to the new entity, which is owned equally by the parent companies.

Anders Runevad, CEO of Vestas Wind Systems A/S and Vice Chairman of MHI Vestas Offshore Wind, is confident about the future of the new joint venture and said: “The Offshore wind power industry is very challenging and it takes just the right combination of reliable and proven technology, experience, knowledge and track record to succeed. I am confident that MHI Vestas Offshore Wind has exactly that right combination and I look forward to closely following the company towards becoming a global leader in offshore wind power.”

“I am pleased to see MHI Vestas Offshore Wind now being operational. Vestas and Mitsubishi Heavy Industries each hold invaluable experience and knowledge which makes this joint venture an ideal opportunity and a technologically and financially robust platform to obtain a global leadership position within offshore wind,” said MHI Vestas Offshore Wind board chairman Masafumi Wani.