in News Departments > New & Noteworthy
print the content item

The offshore wind joint venture between Vestas and Mitsubishi Heavy Industries (MHI) has received final approval from the Chinese competition authorities. The European Commission also recently issued a green light for the deal.

Consequently, all relevant approvals from both European and Asian competition authorities have now been received, and Vestas says it expects final closing of the joint venture to take place in the beginning of the second quarter of this year.

Vestas and MHI announced the JV in September 2013, and each company will hold a 50% interest. According to Vestas, the JV will combine the companies' current capabilities regarding the development of offshore wind turbines, and MHI is also slated to inject up to EUR 300 million in cash into the venture.




IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

Slow Turning: What's Stopping Individual Blade Pitch Control From Wider Acceptance?

Advances have made it feasible for wind turbine blades to adjust individually. However, other factors are preventing the technology's widespread use.


Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.

Hybrid Energy Innovations 2015