TenneT and Mitsubishi Corporation officially closed their partnership with respect to two German offshore high-voltage cable projects, BorWin1 and BorWin2.
Mitsubishi's voting interest will be 49% with aggregate maximum equity commitment of € 240 million. At the same time both partners signed a contract for an investment in two more offshore projects named HelWin2 and DolWin2 in which Mitsubishi also will acquire a 49% voting interest for a maximum equity investment of € 336 million. The planned high-voltage cables, involving a total investment of EUR 2.9 billion, will connect a number of offshore wind farms in the German North Sea to the onshore electricity grid and will have a combined total capacity of 2.8GW.
Mitsubishi's voting interest will be 49% with aggregate maximum equity commitment of € 240 million. At the same time both partners signed a contract for an investment in two more offshore projects named HelWin2 and DolWin2 in which Mitsubishi also will acquire a 49% voting interest for a maximum equity investment of € 336 million. The planned high-voltage cables, involving a total investment of EUR 2.9 billion, will connect a number of offshore wind farms in the German North Sea to the onshore electricity grid and will have a combined total capacity of 2.8GW.
