Supporting a Japanese Company in Offshore Wind Turbine Business
- Area: Europe
- Manufacturing and Services
Photo credit: MHI Vestas Offshore Wind A/S
Wind power manufacturers around the world are working hard to develop and get orders for large generators amid expectations for the growth of the offshore wind energy market, especially in Europe, where it is backed by renewable energy policies in the United Kingdom, Germany, and other countries. Under these circumstances, JBIC undertook equity participation in the Denmark-based joint venture between Mitsubishi Heavy Industries, Ltd. (MHI) of Japan and Vestas Wind Systems A/S (Vestas) of Denmark through MHI Holding Denmark ApS, an MHI subsidiary in Denmark. In this way, JBIC supports offshore wind turbine business by the MHI-Vestas joint venture. This joint venture seeks to establish itself as a global leader in the offshore wind energy market by bringing together the technological strengths and creditworthiness that MHI has cultivated over the years as a manufacturing company in the field of power system plants and the abundant experience and technologies held by Vestas. This kind of equity participation will not only promote the renewable energy business but will also help to maintain and improve the international competitiveness of Japanese companies.