27 Nov '12, 6pm

Vestas and Mitsubishi Planning to Build Biggest Offshore Wind Turbine

Hours earlier Vestas, the world’s largest maker of wind turbines, said it received 900 million euros ($1.2 billion) in financing, driving up its shares by 21 percent yesterday. “The revised loan means Vestas is now in a better position to negotiate with Mitsubishi,” Haakon Levy, an analyst at DNB Markets, said by phone from Oslo. “A joint venture would make sense. Mitsubishi can contribute industrial expertise, a strong balance sheet and access to the Japanese market, and Vestas its technology and experience in the sector.” Germany, Denmark and the U.K. are among nations increasing investment in sea-based wind plants to replace fossil-fuel and nuclear generators as clean energy becomes cheaper. Vestas’s rival Siemens AG has won the bulk of offshore turbine orders. Siemens is testing a 6-megawatt machine as project developers study using bigger windmills to produce more pow...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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