MHI & Vestas Join Hands in Offshore Wind Turbine Business

MarineLink.com
Friday, September 27, 2013
Photo in public domain

Mitsubishi Heavy Industries, Ltd. (MHI) has agreed with Vestas Wind Systems A/S (Vestas), a leading manufacturer of wind power generation systems based in Denmark, to establish a new joint-venture company (J/V). Plans call for the arrangement to be in place before the end of March 2014.

The new J/V will be launched taking over and consolidating MHI's and Vestas' current operations in offshore wind turbines. From a head office to be located in Aarhus, Denmark, the company will handle all aspects from development, design, procurement and manufacturing to marketing and after-sale servicing.

The two partners will have equal equity ownership ratios, with Masafumi Wani – Executive Senior Vice President and Head of Power Systems at MHI – serving as Chairman of the Board of Directors and Jens Tommerup – President of Vestas Asia Pacific & China – filling the position of CEO. Plans call for the new J/V to be inaugurated with an initial workforce of between 300 and 400 employees.


MHI and Vestas will each provide their respective abundant technologies and expertise relating to offshore wind turbines. Plans call for MHI to make an initial investment into the JV of 100 million euros; an additional 200 million euro investment will be carried out based on the J/V's actual business results after startup, making MHI the majority shareholder (MHI: 51%, Vestas: 49%) as of 2016 through exercise of its call option.


The J/V will commence business with Vestas' current 3 MW (megawatt) (V112) and 8 MW (V164) gear type wind turbines. Plans further call for an early market launch of a turbine based on the V164 platform and incorporating MHI's new hydraulic drivetrain, the world's first, known as Digital Displacement® Transmission (DDT).

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Dynasafe Promotes Chas Reid

Dynasafe BACTEC Limited has appointed Chas Reid to International Marine Services Director.   Kevin Kneebone MD, Dynasafe BACTEC said, “Chas has over the last

Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

Contracts

JFD Wins Lifeboat Design Contract for Flash Tekk

JFD, part of James Fisher and Sons plc, announced that it has won a contract with Singaporean company Flash Tekk Engineering for the design and manufacture of up

First Damen Tug for Fratelli Neri

Fratelli Neri S.p.A has taken delivery of a Damen ASD Tug 3212. The new vessel, called Luisa Neri, was handed over from Damen Maaskant Shipyards Stellendam in the Netherlands, on 25 January 2016.

Wood Group Extends North Sea Chevron Contract

Wood Group has secured an extension to continue to support Chevron Upstream Europe across four offshore assets in the North Sea. Wood Group PSN (WGPSN) will deliver

Offshore

OTC Names 2016 Award Winners

The 2016 Offshore Technology Conference (OTC) will honor this year’s Distinguished Achievement Award recipients on Tuesday, 3 May, in Houston.   As part of the

JFD Wins Lifeboat Design Contract for Flash Tekk

JFD, part of James Fisher and Sons plc, announced that it has won a contract with Singaporean company Flash Tekk Engineering for the design and manufacture of up

Wärtsilä's' BWMS for New Crane Ship Design

A new crane ship designed by Netherlands based Royal IHC, a global leader in offshore, dredging and mining vessels, will feature the Wärtsilä Aquarius UV Ballast Water Management System (BWMS).

Environmental

All Ships’ Ballast Water Checked in Great Lakes Seaway

Great Lakes Seaway Ballast Water Working Group releases 2015 ballast water management report    The Great Lakes Ballast Water Working Group (BWWG) released its

Tampa Bay Pilots Suspend Operations

Gale force winds and high sea conditions offshore making it unsafe for pilots to board have led the Tampa Bay Pilots to suspend all inbound and outbound vessel traffic as of about 5:20 a.

The Mississippi River and the 2016 Flood’s Impact on Dredging

The Mighty Mississippi River connects 31 states and 2 Canadian Provinces by a liquid superhighway that includes over 250 tributaries and features more miles of

Wind Power

SevenCs Supports MariGreen Project

SevenCs is part of the EU INTERREG V A cross-border project “MariGreen” to support the maritime industry in the transition towards more efficient, greener and more sustainable shipping.

Global Marine Takes Majority Stake in CWind

Global Marine Systems Limited has acquired a majority interest in offshore renewables specialist CWind Limited. According to Global Marine, the purchase demonstrates

EU Offshore Wind to Grow up to 2020

New capacity more than doubled in 2015 due backlog; existing projects to bring more expansion in coming years. Growth in new offshore wind capacity in Europe

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1127 sec (9 req/sec)