Mitsubishi Heavy Industries has confirmed that it will not take up an option to extend its 50% share in offshore turbine company MHI Vestas.
The Japanese company said today that the 50-50 equity ratio with Danish giant Vestas will remain.
MHI chief executive Michisuke Nayama said: “We believe that unchanged ownership shares is the best way to support the further development of the joint venture while showing the strong partnership and equal contribution from the two parent companies to the market.”
Vestas chief executive Anders Runevad said there is “excellent collaboration” between the two companies.
“We have said from the beginning that the exact ownership structure has no real impact on the day-to-day running of the business, and that remains the case with MHI’s decision,” he said.
“We look forward to building on the productive working relations with MHI and to MHI Vestas Offshore Wind’s continued success.”
Image: MHI Vestas
MHI backs Vestas status quo
Offshore turbine outfit remains 50-50 JV between Japanese and Danes
By EBS