in News Departments > Projects & Contracts
print the content item

TenneT has entered into an agreement with Mitsubishi Corp. to sell a 49% equity stake in two German offshore high-voltage cable projects, BorWin1 and BorWin2. Under the deal, Mitsubishi's aggregate equity commitment will total 240 million euros.

According to the companies, this partnership will allow infrastructure investors to invest in separate clusters of regulated assets.

The two grid connections connect a number of offshore wind farms in the German North Sea to the onshore electricity grid and have a combined total capacity of 1.2 GW. The equity contribution of Mitsubishi represents 20% of the expected combined capital expenditures of approximately 1.2 billion euros for these two projects. TenneT will retain majority ownership and will continue to operate the connections.

The underlying regulatory structure has been developed by TenneT in cooperation with the German regulator (Bundesnetzagentur). The transaction is still subject to certain conditions, which are expected to be met before this summer, and has been approved by TenneT's sole shareholder, the Dutch State.

Deutsche Bank, RBS and Freshfields acted as advisers to TenneT, and Mitsubishi's primary advisers were KPMG and Hogan Lovells.


Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Renewable NRG_id1934
Hybrid Energy Innovations 2015
BG 2015DblBox_id2032