Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 29 June 2018, 10:43 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
Mitsubishi Corporation Commences Construction and Partially Transfers Shares In Dutch Offshore Wind Farm Project

TOKYO, June 29, 2018 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce the achievement of financial close and commencement of construction of Borssele III/ IV Offshore Wind Farm in the Dutch North Sea, in which MC holds shares through its UK based wholly owned subsidiary, Diamond Generating Europe Limited (DGE). Prior to this milestone, DGE has divested part of its shares held to funds managed and/or advised by Partners Group, a global private markets investment manager. Partners Group is the fifth member of the Borssele III/ IV consortium, currently comprised of Eneco Group, Royal Dutch Shell, Van Oord and DGE. Total power generating capacity of the wind farm is 731.5MW, with the construction at sea/field starting from the middle of 2019 and commercial production starting in 2021.

Offshore wind power installations in Europe are projected to reach 50 GW in total capacity by 2030. Driven by a growing momentum towards ESG investment, many companies and institutional investors aim to expand their renewable energy portfolios by entering projects after key risks are mitigated. The mutually beneficial share transfer between Partners Group and DGE, allows Partners Group to enter the Borssele III/ IV project in its construction phase, and DGE to further optimize its power generation portfolio through a re-profiling of assets.

Through DGE, MC has participation in four offshore wind power projects in Europe including Borssele III/ IV, with a collective power generation capacity of over 2GW (as shown below). MC will continue participating in projects that simultaneously generate economic, societal, and environmental value, and leverage its operational experiences to further invest in offshore wind. By so doing, MC aims to accelerate its progress towards achieving a renewable energy composition of over 20% of total attributable power generation by 2030.


About Mitsubishi Corporation

Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.

Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705 


June 29, 2018 10:43 HKT/SGT
Source: Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058)

Topic: Press release summary
Sectors: Alt. Energy
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://ph.linkedin.com/company/mitsubishi-corporation

Mitsubishi Corporation
Oct 12, 2018 12:45 HKT/SGT
Mitsubishi Corporation and Kinki Sharyo to Supply Additional Trains for Doha Metro Project
Oct 2, 2018 15:46 HKT/SGT
Mitsubishi Corporation Reaches Final Investment Decision on LNG Canada Project
Sept 14, 2018 16:03 HKT/SGT
Mitsubishi Corporation to Establish Joint Venture for Urban Development Projects in Asia
Sept 10, 2018 11:08 HKT/SGT
Mitsubishi Corporation to Invest in Distributed Power Supply Project in Off-Grid Areas in Africa
Aug 31, 2018 09:03 HKT/SGT
Hitachi and Mitsubishi Corporation Sign a Memorandum of Understanding with Metro de Panama, S.A. to Provide a Monorail System
Aug 31, 2018 08:46 HKT/SGT
Mitsubishi Corporation Announces Partnership with Fast Retailing to Develop UNIQLO Retail Business in Vietnam
Aug 24, 2018 10:47 HKT/SGT
Mitsubishi Corporation Subsidiary Indiana Packers Corporation to Acquire Specialty Foods Group
Aug 7, 2018 14:47 HKT/SGT
Mitsubishi Corporation to Acquire Major Share of Food Manufacturer Gourmet Delica
Aug 1, 2018 15:45 HKT/SGT
Fukuoka International Airport Co. Signs Project Agreement for the Operation of Fukuoka Airport
July 27, 2018 10:50 HKT/SGT
Mitsubishi Corporation Reaches Final Investment Decision on Quellaveco Copper Mine Project
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: