Mitsubishi to invest 576 million euros in German grid
Wednesday, 16 January 2013
FRANKFURT: Japanese giant Mitsubishi Corporation and Dutch power grid operator TenneT said on Wednesday they were teaming up to connect four off-shore windparks to the German national grid.
Under the terms of the partnership, Mitsubishi will invest a total 576 million euros ($766 million) in four high-voltage cable projects, the two partners said in a joint statement.
The planned high-voltage cables, involving a total investment of 2.9 billion euros, 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 2.8 gigawatt, the statement said.
That represents nearly 30 percent of the total volume that the German government is planning to be generated from offshore wind in the North Sea, the statement explained. (AFP)
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