Mitsubishi to expand in Europe with $4.5 billion purchase of Dutch energy company

first_img FacebookTwitterLinkedInEmailPrint分享Greentech Media:A group led by Mitsubishi beat out other bidders including Shell in reaching a €4.1 billion ($4.5 billion) deal to buy Dutch energy company Eneco, which the Japanese conglomerate intends to make the centerpiece of its growth in the European energy market.The winning consortium includes Mitsubishi, with an 80 percent stake, and Japanese utility Chubu, with the remaining 20 percent. Owned by several dozen Dutch municipalities, Eneco is the second largest electricity supplier in the Netherlands and is also active in Germany and Belgium. The company operates about 2 gigawatts of wind capacity, roughly a quarter of it offshore, alongside nearly 300 megawatts of solar.Mitsubishi is already a substantial investor in Europe’s electricity market, including a 20 percent stake in U.K. electricity supplier OVO. Mitsubishi Heavy Industries, part of the Mitsubishi Group, is co-owner of offshore wind turbine manufacturer MHI Vestas.Eneco offers “a platform to further grow in the European market, in which we intend to have a leading position in the energy transition,” Takehiko Kakiuchi, CEO of Mitsubishi Corporation, said in a press statement.Offshore wind is at the center of an existing collaboration between Eneco and Mitsubishi dating back to 2012. The two companies have jointly invested in a trio of offshore wind farms, all of them using MHI Vestas turbines, as well as in a 48-megawatt battery in Germany.More: Mitsubishi eyes leading position in Europe’s energy market with Eneco acquisition Mitsubishi to expand in Europe with $4.5 billion purchase of Dutch energy companylast_img

Leave a Reply

Your email address will not be published.Required fields are marked *