Why on Earth would Mitsubishi Heavy Industries sell off its half stake in MHI Vestas at this particular time? That basic yet also very legitimate question was also posed at the end of an investor teleconference held late Thursday morning following the announcement that the Danish wind major is acquiring full ownership of the offshore OEM in return for the Japanese group gaining a equity position in Vestas.
At first glance, the timing might seem somewhat odd. While offshore was merely a marginal consideration only a few years back in small handful of European countries at the time when the Japanese group entered the joint venture, the technology now faces a major global breakthrough. As Vestas has reiterated several times in connection with the transaction, the market is projected to quadruple to 20 GW annually over the coming decade.
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