Mitsubishi Corporation acquires 33.4 per cent stake in Moray Offshore Windfarm (East)

Japan-based Mitsubishi Corporation has acquired a 33.4 per cent stake in Moray Offshore Windfarm (East) Limited (MOWEL), from Spain-based energy company EDP Renewables (EDPR). The acquisition has been made through its wholly owned UK-based subsidiary Diamond Generating Europe Limited and has brought EDPR’s stake in MOWEL to 34 per cent. France-based Engie holds a 23 per cent stake in MOWEL, which will start the construction of one of the UK’s largest offshore wind farms in 2018. The 950 MW project is being set up in the North Sea, 22 km off the coast of Scotland. The project will use MHI Vestas 9.5 MW turbines and is due to be commissioned in 2022-23.

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