The Japanese company has acquired a 50% interest in the 129MW Luchterduinen project off the coast of the Netherlands demonstrating the interest in European offshore wind among international investors. The Mitsubishi investment is evidence that the offshore wind sector is broadening its access to sources of capital needed to complete major projects. GL Garrad Hassan assisted Mitsubishi by providing valuable advice on how to approach the European offshore wind market and due-diligence of technical risks.
GL Garrad Hassan is one of the world’s most recognised leaders in offshore wind strategy and engineering services and has been involved with the global wind sector since 1993 contributing to many of the world’s major wind projects.
Mitsubishi will be working with Dutch utility Eneco on the 120MW Princes Amalia scheme as well as on Luchterduinen and the partnership between the two organisations might even reach into the UK where Eneco is already involved in a joint venture developidng the 1100MW Navitus Bay offshore wind project. Eneco may also be interested in similar projects in Belgium.
GL Garrad Hassan