MHI Vestas shifts strategic focus

Despite revenue growing eight times its former size, Vestas is still losing money on its offshore wind venture. But the plan is to turn things around this year.

During 2017, MHI Vestas had a solid hold on the European market. Besides completing the projects Rampion and Nobelwind with turbines from the Vestas 4 MW platform, the joint venture's large V164 machine made its first major debut in the North Sea at the Blyth, Burbo Bank and Walney farms. Even though competitors from Siemens Gamesa remain far ahead, this added up to a market share of 27 percent last year, according to WindEurope.

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