|Vestas and Mitsubishi Heavy Industries each hold invaluable experience and knowledge which makes this joint venture an ideal opportunity and a technologically and financially robust platform to obtain a global leadership position within offshore wind.
|Masafumi Wani, Chairman of the Board, MHI Vestas Offshore Wind
The V164-8.0 MW has an 80 m composite blade, the longest Vestas has produced. It is based on a structural shell design.
Vestas and MHI announced their joint venture in September 2013.
The new company, MHI Vestas Offshore Wind, is headquartered in Aarhus, Denmark. Vestas and MHI have transferred 380 employees to the new entity, which is owned equally by the parent companies
The joint venture is responsible for the design, further development, procurement, manufacturing, installation, commissioning and service related to the V164-8.0 MW turbine, as well as all marketing, sales and after-sales service related to offshore wind.
Vestas reports that the closing of the joint venture will only have a marginal impact on its 2014 revenue and earnings due to the deconsolidation of the offshore business unit. A gain on the joint venture transaction of around €50 million will be booked as a special item.