CLOSE

Select Region

Mitsubishi Corporation has Offices & Subsidiaries in approximately 90 countries around the world

  • Japan (Head Office)
  • North America
  • Latin America & the Caribbean
  • Europe
  • Africa
  • Middle East
  • Central Asia
  • East Asia
  • Asia & Oceania
  • Japan (Head Office)
  • North America
  • Latin America &
    the Caribbean
  • Europe
  • Africa
  • Middle East
  • Central Asia
  • East Asia
  • Asia & Oceania

Japan (Head Office)

North America

Latin America & the Caribbean

Please see details of our activities in Latin America & the Caribbean here.

Corporate Brochure

Central Asia

Mitsubishi Corporation

Press Room

December 5, 2018
Mitsubishi Corporation

Mitsubishi Corporation Named Preferred Bidder for Offshore Transmission Asset in the UK

Mitsubishi Corporation (MC), through its wholly-owned subsidiary Diamond Transmission Corporation (DTC), has been selected as the preferred bidder for a new, offshore electricity transmission link in the UK. This marks the seventh electricity transmission project for MC in the UK. The new offshore electricity transmission asset connects the Galloper Offshore Windfarm (generation capacity of 353MW), situated approximately 30 km off the country’s eastern coast, with the Sizewell substation. The transmission line is composed of subsea and land cables and offshore and onshore substations, and is valued at GBP 329.1 million.
 
MC will execute this electricity transmission business for a 20-year period starting around the second quarter of 2019, following successful acquisition of the asset and the granting of an Offshore Transmission Owner (OFTO) license by the UK’s Office of Gas and Electricity Markets (Ofgem).
 
With the acquisition of the Galloper Offshore Windfarm transmission link, DTC will now be operating seven offshore transmission assets in the UK, which is the largest share considering that there is a total of 19 assets across the country. Combined with four others held in Germany, the number of power transmission assets held by DTC in Europe will add up to eleven, for a gross transmission length of approximately 1,000 km and an electricity transmission capacity of around 5.3 GW.
 
DTC is seeking to expand its independent management functions and deepen its commitments in the offshore transmission business by leveraging the skills of its highly qualified in-house team of technical and accounting specialists.
 
A European Commission roadmap suggests the EU is aiming to cut its greenhouse gas emissions to 80% of 1990 levels by 2050. In line with that target, the EU expects to generate some 50 GW of offshore wind power capacity by 2030. The availability of stably operated undersea cable transmission systems that connect offshore wind power generation plants to onland power grids is increasingly critical in that context. For its part, MC sees its participation in offshore transmission and other businesses that contribute to reducing greenhouse emissions as an opportunity to realize its vision of simultaneously generating economic, societal and environmental value through its businesses.
 
<MC’s Offshore Transmission Assets>
Project
Country
Asset Transfer
Transmission Length (km)
Transmission Capacity (MW)
Walney-1
UK
November 2011
48
178
Walney-2
UK
October 2012
48
178
BorWin-1
Germany
December 2012
200
400
BorWin-2
Germany
December 2012
200
800
DolWin-2
Germany
December 2012
135
900
HelWin-2
Germany
December 2012
130
690
Sheringham Shoal
UK
July 2013
45
315
London Array
UK
September 2013
54
630
Burbo Bank Extension
UK
April 2017
25
258
Race Bank
UK
March 2019 (scheduled)
71
573
Galloper
UK
FY2019(scheduled)
30
353
 
 
 
<Location of MC’s Offshore Transmission Assets>
<Reference Information>
1. About Mitsubishi Corporation:
(1) Head Office      : 3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, Japan
(2) Establised         : 1954
(3) Business           : 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.
(4) Representative : Takehiko Kakiuchi, President and Chief Executive Officer
 
2. About Diamond Transmission Corporation Limited
(1) Head Office      : Mid City Place, 71 High Holborn, London, WC1V 6BA, United Kingdom
(2) Established       : 2013
(3) Business           : Transmission of electricity in Europe.
(4) Representative  : Yasushi Umemura, CEO & Managing Director

Inquiry Recipient

Mitsubishi Corporation
Telephone:+81-3-3210-2171 / Facsimile:+81-3-5252-7705
PAGE TOP