Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 9 September 2022, 12:50 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
MC and InfraRed Named Preferred Bidders for UK Offshore Transmission Asset

TOKYO, Sept 9, 2022 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that MC and InfraRed Capital Partners (InfraRed) have been selected as the preferred bidders for a new offshore electricity transmission link in the UK. MC's partnership with InfraRed comes via its UK-based, wholly owned subsidiary Diamond Transmission Corporation Limited (DTC). The acquisition of this link will make DTC the operator of ten offshore transmission assets in the UK with a combined total of 784 kms of cable, thus adding to its already largest share of the market.


Valued at approximately 190 billion yen, the assets in question comprise subsea cables, land cables, offshore substations and an onshore substation that connect with the 1,386 MW capacity Hornsea Two offshore wind farm situated approximately 90 km off the UK's northeast coast. MC and InfraRed will operate this electricity transmission business for a 24-year period, following successful acquisition of the assets and the granting of an Offshore Transmission Owner license by the UK's Office of Gas and Electricity Markets (Ofgem). To operate the business efficiently, DTC will leverage its experience running its existing transmission assets in the UK.

Through its commitment to simultaneously generate economic, societal and environmental value, MC is striving to meet the ever evolving needs of communities around the world and achieve sustainable growth hand in hand with society. In Europe, we are rapidly expanding our undersea transmission operations to help promote the development and use of offshore wind power, for which these kinds of infrastructure and systems are essential. The growth of these businesses will also play a part in lowering greenhouse gas emissions.

MC has been doing more in recent years to create new carbon-neutral industries that will be powered by renewable energies. These efforts are part of our work to revitalize regions across Japan through businesses that promote both digital (DX) and energy (EX) transformations, which is a key objective of our latest management plan, "Midterm Corporate Strategy 2024: Creating MC Shared Value." Knowing how these overseas transmission operations can enhance the offshore wind farm and other renewable energy projects that MC is both developing and operating here in Japan, we intend to take full advantage of the know-how gained from them.

MC remains dedicated to helping Japan and countries around the world secure stable supplies of renewable energy.


Topic: Press release summary
Source: Mitsubishi Corporation

Sectors: Energy, Alternatives
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

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

Mitsubishi Corporation
Nov 29, 2022 18:12 HKT/SGT
Tokyo Gas, Osaka Gas, Toho Gas and Mitsubishi Collaborate to Produce e-methane in the US and Transport It to Japan, Utilizing Cameron LNG in Louisiana
Oct 27, 2022 10:23 HKT/SGT
Mitsubishi Corporation and FEV Consulting Establish New Joint Venture for Materials Industry
Oct 26, 2022 11:52 HKT/SGT
Mitsubishi Corporation Establishes New Branches in Akita and Choshi
Oct 3, 2022 16:11 HKT/SGT
Neste, Idemitsu Kosan, CHIMEI and Mitsubishi Corporation join forces to create a renewable plastics supply chain
Aug 26, 2022 12:24 HKT/SGT
Mitsubishi Corporation Announces the Closing of AIGF II Small and Mid-cap Growth Fund in ASEAN
Aug 15, 2022 08:05 HKT/SGT
Mitsubishi Motors Introduces the All-New Outlander PHEV Model in Australia
July 1, 2022 15:10 HKT/SGT
Mitsubishi Corporation: Seven-Member Partnership Commits to Warehouse DX Initiative
June 30, 2022 17:23 HKT/SGT
MC and Maruha Nichiro Agree to Establish New Joint Venture in Salmon (land-based)
June 24, 2022 17:22 HKT/SGT
Murata and Mitsubishi Agree on a Cooperative Framework for Working Toward a Carbon-Neutral Society
May 24, 2022 09:10 HKT/SGT
Mitsubishi Corporation signs Participation Agreement with Sempra Infrastructure, TotalEnergies, Mitsui for Carbon Sequestration Project in Louisiana
More news >>
 News Alerts
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: