Japanese firm Mitsubishi Corp. has purchased a 50 percent share of the Walney 1 transmission assets offshore from the United Kingdom from Macquarie Capital Group. Macquarie was operating the Walney 1 undersea transmission cable together with a fund managed by Barclays Infrastructure Funds Management (BIFM).
Following the transaction between Mitsubishi and Macquarie, Mitsubishi and the BIFM fund each hold a 50 percent stake in Walney 1 and have a license to operate the project for 20 years.
The undersea power cable is about 50 kilometers long and connects a 184-megawatt wind farm in the East Irish Sea to the Lancaster Coast and its transformers facilities.
