Vestas Wind Systems’ plans to buy-up Mitsubishi Heavy Industries’ (MHI) stake in its MHI Vestas offshore wind turbine joint venture has received regulatory approval from the European Commission.
The deal, though which MHI will acquire 2.5% of Vestas with a nominated seat on the Danish OEM’s board of directors, will see Vestas add the title of biggest offshore wind manufacturer to its previous market-leading position in onshore wind.
