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Mitsubishi Corporation

Press Room

December 14, 2016
Mitsubishi Corporation

Mitsubishi Corporation Participates in Belgium’s Largest Offshore Wind Farm Project

Mitsubishi Corporation (MC) has reached an agreement with Eneco, an integrated energy company from the Netherlands, to establish a new fifty-fifty joint venture for investing in the Norther offshore wind farm project to be established off the coast of Belgium. The new joint venture, through an agreement to be executed by MC’s wholly owned UK-based subsidiary Diamond Generation Europe Limited, will hold 50% of shares in Norther, while the remaining 50% will be held by energy and technology services provider Nethys of Belgium. The project will be developed, constructed and operated by a partnership comprising theses three companies.
The Norther project (44 MHI-Vestas 8.4MW wind turbine generators), with a maximum capacity of 370MW and a total project cost of 150 billion JPY, will be established in the North Sea (at a 20m water depth) 23km off the coast of Belgium, and will be the country’s largest offshore wind farm, generating enough energy to supply nearly 400,000 households. Construction is slated to get underway in January 2017, with operations set to start around the summer of 2019.
MC’s participation in Norther is based on a Long-Term Partnership Agreement established with Eneco in 2012. The project is their second collaborative effort after the Luchterduinen offshore wind farm in the Netherlands, which started operations at the end of 2015. Also a fifty-fifty joint venture between MC and Eneco, Luchterduinen has a generating capacity of 130MW.
MC’s focus on the development of offshore wind projects is part of a policy to increase its presence in the renewable energies sector, and part of efforts to contribute to the realization of a “low-carbon society”. Having already installed a team of offshore wind experts, MC is now taking greater initiative to develop, construct and operate wind energy projects as it evolves its business model from investing to managing in accordance with Midterm Corporate Strategy 2018, the company’s current management strategy.
*MC has entered into a Long-Term Strategic Partnership Agreement for undertaking off shore wind activities in Europe with Eneco, whose stated mission is: “Sustainable energy for all”. For details visit the site linked by the URL below:
 
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Reference Information
1. Mitsubishi Corporation
(1)Headquarters:  3-1 Marunouchi 2-Chome, Chiyoda-ku, Tokyo, Japan
(2)Established: 1954
(3)Main Business: Mitsubishi Corporation (MC) 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. MC’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.
(4)Representative: Takehiko Kakiuchi, President and CEO
 
2. Diamond Generating Europe
(1)Headquarters:  London, England
(2)Year Established: 2012
(3)Main Business: Power development and generation in Europe, the Middle-East and Africa
(4)Representative: Keiichi Suzuki, CEO
 
3. Eneco
(1)Headquarters: Rotterdam, The Netherlands
(2)Year Established: 1995
(3)Main Business: General energy business, including the production and supply of electricity, gas and heat
(4)Representative: Jeroen F. de Haas, Chairman
 
4. Nethys
(1)Headquarters: Liege, Belgium
(2)Year Established: 1922
(3)Main Business: Provision of energy, communication and industrial development services
(4)Representative: Stephane Moreau, CEO

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