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Report: Vestas/Mitsubishi may partner on world's largest offshore turbine

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Bloomberg is reporting this morning that Vestas Wind Systems A/S and Mitsubishi Heavy Industries Ltd. are in talks which could lead to them building the world's largest offshore wind turbine.
Report: Vestas/Mitsubishi may partner on world

The report by Stefan Nicola and Gelu Sulugiuc says the envisioned 8 MW turbine would be about 30 percent more powerful than the prevailing market leaders.

The report comes just hours after Vestas, the world's largest manufacturer of wind turbines, announced it had received €900 million (About $1.17 billion) in financing from nine international banks.

The financing period extends through 2015.

Industry observers suggest the loan significantly bolsters Vestas position in the its talks with the Japanese heavy-machinery maker, talks that have been underway -- under a cloak of secrecy --since last summer.

The funding should also help shore up its competition with rival Siemens AG, which has been regularly announcing deals for turbines with offshore wind farm developers in Denmark, Germany and the United Kingdom.

Bloomberg reports that Siemens is currently testing a 6 MW turbine, and quotes a company spokeswoman as saying a 10 MW turbine may be in the offing.

For additional information:

Bloomberg

Vestas credit facility announcement

Mitsubishi Heavy Industries Ltd.

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