Mitsubishi To Grab Stake In $2.2B German Wind Grids

Law360, New York (March 6, 2012, 4:40 PM EST) -- Dutch power company Tennet Holding BV said Tuesday that it intends to sell minority stakes in two of its proposed German North Sea wind farm grid connections, projects worth about  €1.7 billion ($2.2 billion) total, to Japan's Mitsubishi Corp.

The two companies signed a letter of intent to partner on the renewable energy projects, dubbed Helwin2 and Dolwin2, with Mitsubishi taking a 49 percent stake in nominal-share capital. Financial terms of the deal were not disclosed, but Tennet said it expects to garner an additional third-party...
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