- Published: 14 December 2020 14 December 2020
Vestas and Mitsubishi Heavy Industries, Ltd. (MHI) have closed the agreement to expand their partnership. By closing the agreement, Vestas has acquired MHI’s shares in the MHI Vestas Offshore Wind (MVOW) joint venture, while MHI has acquired 2.5 percent in Vestas and will be nominated to a seat in Vestas’ Board of Directors.
With the agreement approved by relevant authorities and closed by the involved parties, the integration of Vestas and MHI Vestas Offshore Wind can now accelerate, with the aim to complete the organisational integration by 1 February 2021. Vestas and MHI will continue setting up a joint venture for wind energy in Japan as well as explore the partnership within green hydrogen.
As part of the integration process, Vestas also has announced the new roles for selected senior staff from the joint venture. These include that per 1 February 2021, Johnny Thomsen, currently CEO of MHI Vestas Offshore Wind, will become Group Senior Vice President, Head of Global Offshore Commercial, reporting to Vestas’ Chief Sales Officer, Juan Araluce, while Flemming Ougaard, currently Head of Global Offshore Service & Construction, will become SVP, Head of Global Offshore Service & Construction, reporting to Juan Araluce and Vestas’ Chief Service Officer, Christian Venderby.