Japan's MHI eyes cooperation with Vestas Wind Systems

Vestas Wind Systems and Mitsubishi Heavy Industries Ltd. are negotiating on a possible strategic cooperation.

"If the dialogue results in an agreement, Vestas will make a company announcement on the issue immediately thereafter," Vestas Wind Systems said in a statement.

It has been reported that Vestas was considering putting itself up for sale after starting debt-restructuring talks with lenders.

A partnership between Vestas and Mitsubishi Heavy would coincide with a push by Japan to encourage more development of renewable sources of power.

The government in July introduced an incentive program to promote investments in clean energy.

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