MC, Chubu Selected as Eneco’s Preferred Buyers

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Mitsubishi Corp. (MC) and Chubu Electric Power Co. Inc. (Chubu) have been selected as the preferred buyers in a bid for the Dutch-based renewable energy company Eneco, a company that specializes in offshore wind power transmission.

Both MC and Chubu are completing the acquisition procedures and officially acquired all shares of Eneco through their joint venture in the Netherlands, special purpose company Diamond Chubu Europe B.V. The total value of this acquisition is €4.1 billion.

“We are committed to fully endorse, strengthen and contribute to the further national and international development of Eneco’s strategy,” says Takehiko Kakiuchi, CEO of Mitsubishi Corp. 

“This includes, amongst others, continuing to invest in sustainable assets, innovative products and services, research and development and the expansion of the energy activities of Eneco. We have been partners with Eneco since 2012 and the consortium is committed as a long-term shareholder,” he adds.  

By taking advantage of Eneco’s experience in the renewable energy field, MC is aiming to accelerate its own renewable developments in Europe and around the world. MC use using this opportunity to help reduce greenhouse emissions and realize its vision of simultaneously generating economic, societal and environmental value through its businesses.

Eneco’s total offshore wind capacity has reached approximately 427 MW as of the end of 2019.

Photo: An Eneco offshore wind farm

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