MHI Vestas Offshore Wind had “slightly disappointing” orders in 2019 and saw its profits fall, said the turbine manufacturer's half-owner Vestas.
MHI Vestas delivered a net €6m profit ($6.6m) last year, down from €26m in 2018, and is likely to deliver the same again in 2020, said senior managers from the Danish onshore turbine giant, which will split the profit with joint venture partner Mitsubishi Heavy Industries of Japan
The JV “probably had a slightly disappointing year” in terms of order intake in the “lumpy” global offshore wind market, said Vestas chief executive Henrik Andersen, when discussing Vestas’s own full-year results with financial analysts.
