Regulators clear Vestas-MHI JV

Vestas said its offshore wind joint venture with Japan’s Mitsubishi Heavy Industries (MHI) has now received all necessary regulatory clearances from authorities in Europe and Asia.

The final approval needed came when China’s competition authorities waved through the JV.

“Final closing of the joint venture is expected to take place in the beginning of the second quarter of 2014,” said a statement from the Danish wind turbine group.

The 50/50 offshore wind alliance was announced last September after a year of negotiations.

The JV is being led by CEO Jens Tommerup, formerly Vestas's Asia-Pacific & China boss.