MHI Maintains 50% Stake in Offshore Wind Power Joint Venture Company MHI Vestas Offshore Wind

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TOKYO, Apr 29 – Mitsubishi Heavy Industries, Ltd. (MHI) has decided to maintain 50% ownership of MHI Vestas Offshore Wind A/S (MVOW). MHI had announced a call option on September 27, 2013 to increase its investment in the equally-owned joint venture company with Denmark’s Vestas in the offshore wind power business, but the Company decided that maintaining a strong partnership and equal holding with Vestas would be in the best interests of the company and its continued growth. 

The support of the parent companies has helped MVOW secure a large number of orders for offshore wind projects in Europe, and it has become one of the top suppliers in the booming offshore wind power market. MHI and Vestas together will continue to support MVOW, helping ensure its continued success.

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