TenneT and Mitsubishi Corporation (MC) have signed a letter of intent to partner up in the HelWin2 and DolWin2 offshore grid connections.
In February of this year, TenneT and MC reached commercial agreement on MC’s equity investment in TenneT’s BorWin 1 and BorWin 2 offshore grid connection systems. MC is to acquire 49% of the nominal share capital in these offshore connections, subject to certain conditions. This letter of intent is an important step towards a further equity investment of MC in TenneT’s existing offshore grid investment program. As in the other projects, TenneT would retain majority ownership and would continue to operate these connections. The grid connections, Helwin2 and Dolwin2, connect a number of offshore wind farms in the German North Sea to the onshore electricity grid and have a combined total capacity of 1,590MW.
In February of this year, TenneT and MC reached commercial agreement on MC’s equity investment in TenneT’s BorWin 1 and BorWin 2 offshore grid connection systems. MC is to acquire 49% of the nominal share capital in these offshore connections, subject to certain conditions. This letter of intent is an important step towards a further equity investment of MC in TenneT’s existing offshore grid investment program. As in the other projects, TenneT would retain majority ownership and would continue to operate these connections. The grid connections, Helwin2 and Dolwin2, connect a number of offshore wind farms in the German North Sea to the onshore electricity grid and have a combined total capacity of 1,590MW.