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MC and InfraRed Named Preferred Bidders for UK Offshore Transmission Asset

TOKYO, Sep 09, 2022 – (JCN Newswire) – Mitsubishi Corporation (MC) is very happy to announce that MC and InfraRed Capital Partners (InfraRed) have already been selected because the preferred bidders for a fresh offshore electricity transmission link in the united kingdom. MC’s partnership with InfraRed comes via its UK-based, wholly owned subsidiary Diamond Transmission Corporation Limited (DTC). The acquisition of the link can make DTC the operator of ten offshore transmission assets in the united kingdom with a combined total of 784 kms of cable, thus increasing its already largest share of the marketplace.

Valued at approximately 190 billion yen, the assets involved comprise subsea cables, land cables, offshore substations and an onshore substation that connect to the 1,386 MW capacity Hornsea Two offshore wind farm situated approximately 90 km off the UK’s northeast coast. MC and InfraRed will operate this electricity transmission business for a 24-year period, following successful acquisition of the assets and the granting of an Offshore Transmission Owner license by the UK’s Office of Gas and Electricity Markets (Ofgem). To use the business enterprise efficiently, DTC will leverage its experience running its existing transmission assets in the united kingdom.

Through its commitment to simultaneously generate economic, societal and environmental value, MC is striving to meet up the ever evolving needs of communities all over the world and achieve sustainable growth together with society. In Europe, we have been rapidly expanding our undersea transmission operations to greatly help promote the development and usage of offshore wind power, that these types of infrastructure and systems are crucial. The growth of the businesses may also play a role in lowering greenhouse gas emissions.

MC is doing more recently to generate new carbon-neutral industries that’ll be powered by renewable energies. These efforts are section of our work to revitalize regions across Japan through businesses that promote both digital (DX) and energy (EX) transformations, that is a key objective of our latest management plan, “Midterm Corporate Strategy 2024: Creating MC Shared Value.” Focusing on how these overseas transmission operations can boost the offshore wind farm along with other renewable energy projects that MC is both developing and operating within Japan, we plan to make best use of the know-how gained from their website.

MC remains focused on helping Japan and countries all over the world secure stable supplies of renewable energy.

Copyright 2022 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

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