The Recharge article ‘Vestas take-over of Mitsubishi offshore turbine venture sails Dane into wider market seas‘, is a detail analysis of Vestas’ $830m take-over of its 50:50 offshore wind turbine venture with MHI that was announced on 29 October. It contains this quote from Bruce Valpy:
“When the JV was first announced, it looked like a marriage made in heaven – Vestas, a pure-play wind player, needed the balance sheet of a conglomerate and MHI already had intent to play in turbine sales alongside interests in offshore wind transmission,” says BVGA managing director Bruce Valpy.
“We’ve sensed a rockiness about the relationship over the years, and maybe this has been part of the reason for the slowness in finalising a next-generation product.”
You can read the article in full here: ‘Vestas take-over of Mitsubishi offshore turbine venture sails Dane into wider market seas’, although a subscription may be required.