Buying into Vestas offers clear opportunities for MHI, in particular, by giving the Japanese group access to an established offshore wind turbine production and marketing platform.

Yet with other business segments dwarfing its wind business, and a huge merger with Hitachi just signed, the company is unlikely to give such a deal the attention it needs for some time.

“They are still in negotiations but it’s not a short-term negotiation,” says Ryo Tazaki at Nomura Securities.

Mitsubishi