Mitsubishi Heavy Seeks 10% of Offshore Wind Market
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Mitsubishi Heavy Industries Ltd. plans to capture a 10 percent share of the global offshore wind power market by 2017 using an as yet unproven technology that will boost generation efficiency and lower costs.
The company, which has manufacturing businesses in ships, aircraft and nuclear plants, will be entering a market dominated by Siemens AG of Germany and Denmark’s Vestas Wind Systems A/S. The two have about 80 percent of the world’s offshore wind market, while Mitsubishi Heavy has zero, according to the company.