Mitsubishi Heavy Industries (MHI) and Vestas will both continue to have 50 per cent stake in their joint venture dedicated to the development and supply of offshore wind turbines.
Namely, when the companies teamed up to serve the offshore wind industry in 2013, they agreed on equity ownership ratios of 50 per cent for each of them, with an option for MHI to change the ownership ratio to 51:49 per cent in its favour this month (April 2016).
Today, MHI notified Vestas that it will not exercise the option to change the ownership ratio of MHI Vestas Offshore Wind, thus leaving the 50:50 equity ownership ratios.
Michisuke Nayama , President and CEO, Energy & Environment, MHI, 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 President and CEO Anders Runevad said: “There is an excellent collaboration between MHI and Vestas in the joint venture, whose business is developing according to plan. 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.”