// IP Marketing video - START// IP Marketing video - END

Mitsubishi invests $770mln in German offshore wind farms

Mitsubishi invests $770mln in German offshore wind farms

PanARMENIAN.Net - Japan's Mitsubishi is investing €576 million ($770 million) in developing German offshore wind farms.

Netherlands-based grid operator Tennet said Wednesday, Jan 16, that Mitsubishi will take a 49 percent stake in the €2.9 billion high-voltage cables linking four offshore farms to the German grid.

The four plants have a total production capacity of 2.8 gigawatts, more than two average nuclear reactors.

Linking the wind farms, some of which are more than 100 kilometers (60 miles) offshore, to electrical grids is costly. Tennet needs to invest a total of €5.8 billion to connect ten offshore wind farms, and has been struggling to finance the grid expansion.

Germany is phasing out nuclear power by 2022 in favor of renewable energies instead, and offshore wind is expected to become one of the main energy sources.

 Top stories
“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
1,259,657 tourists have arrived in Armenia in January-December 2016, the National Statistical Service said, up by 5,7% on the year before.
Partner news