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Rotterdam / Tokyo,
21
January
2013

Eneco and Mitsubishi Corporation sign partnership agreement on Eneco Luchterduinen offshore wind farm

Summary

Eneco and Mitsubishi Corporation (MC) have concluded an agreement giving MC a 50% stake in the Eneco Luchterduinen offshore wind farm. The companies have also entered into a ‘Long-Term Partnership Agreement’, signalling their intention to work together on other offshore wind energy activities in Europe.

Partnership Mitsubishi - Eneco

This signals the start of a new phase of the development of Eneco Luchterduinen Wind Farm. The wind farm will be located 23 kilometres from the coast between Noordwijk and Zandvoort. The 43 wind turbines will have a combined capacity of 129 Megawatt and will generate green electricity for nearly 150.000 households. The construction of Eneco Luchterduinen Wind Farm will start in July 2014 and will be completed after the summer of 2015. Other partners in the project are Vestas, Van Oord, Joulz and TenneT.

Danish company Vestas, which has an international installed base of 47,000 wind turbines, will supply the 43 wind turbines (type V112) of Eneco Luchterduinen. The turbine has high productivity due to its large swept area, higher rotor efficiency and better serviceability and reliability resulting in higher availability. Van Oord, an international contractor specialising in dredging, marine engineering and offshore wind projects, shall be responsible for the foundations, the electrical infrastructure and the offshore transformer station. Van Oord shall also supply the ship that will be used to install the 43 wind turbines. Joulz, a company that specialises in optimising the availability of energy infrastructures, shall install the underground electricity cable from the beach to the high-voltage station. Transmission System Operator TenneT shall connect this electricity cable to the switching and high-voltage station in Sassenheim.

As part of the Long-Term Partnership Agreement, Eneco and MC have also concluded to establish a partnership in Eneco's Prinses Amalia Wind Farm that was put into operation in 2008 and is also located 23 kilometres off the Dutch coast. The Prinses Amalia Wind Farm consists of 60 2MW turbines providing electricity for 120.000 households. Participation by MC in wind farms in Belgium and the UK fully or jointly owned by Eneco is up for future discussion.

‘We are pleased to announce that Eneco has partnered with Mitsubishi Corporation, a company with a strong track record in delivering sustainable energy projects of national importance in various countries. Like Eneco, MC is committed to investing in the Dutch renewables market and both companies share the view of the Dutch government that projects of this nature are vital to obtaining a secure, affordable and sustainable future energy supply in the Netherlands.
In view of the significant investment associated with the development of an offshore wind farm it has been Eneco’s intention from the start to seek a development partner for the Eneco Luchterduinen offshore wind farm. The long-term partnership with MC is in line with Eneco’s strategy to work together with organisations that share our values and enable Eneco to achieve its mission to supply ‘sustainable energy for everyone’.
Jeroen de Haas, CEO Eneco Group
MC has designated global environment business as a strategic domain and is actively promoting renewable energy generation. This commitment to sustainability, which is one of the core components of MC’s midterm Corporate Strategy 2012, is a key driver of MC’s interest in Eneco's offshore wind projects and a principal reason why MC values this strategic partnership as an excellent opportunity to embody our green philosophy in the effort to develop outstanding projects like Eneco Luchterduinen.
I strongly believe that this transaction signals the start of a long-term relationship with Eneco; a relationship built upon the foundation of our shared commitment to sustainability. The plans that have been drawn up for Eneco to purchase a number of innovative electrical vehicles further underline this commitment. Both Eneco and MC look forward to working together in seeking development consent for the Eneco Luchterduinen Wind Farm and other offshore wind projects in Europe. MC will also continue to look to expand its involvement in the field of environmentally-friendly infrastructure projects across the globe.
Nobuaki Kojima, Executive Vice President, Global Environment & Infrastructure Business Development Group CEO of MC
Boilerplate

About Mitsubishi Corporation
MC is a global integrated business enterprise that develops and operates businesses across virtually every industry, including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With more than 200 Offices & Subsidiaries in approximately 90 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of over 60,000 people.

About Eneco Group
The Eneco group (http://corporateuk.eneco.nl) focuses on energy saving, generating sustainable energy in collaboration with its customers and supplying clean energy (electricity, gas and heating). The Eneco group encompasses the companies Stedin (network management), Joulz (infrastructures) and Eneco (energy company). Based on its mission 'sustainable energy for everyone', the Eneco group invests in sustainable energy sources, energy solutions and infrastructure, with the aim to keep energy clean, available and affordable in the long term. Eneco group has approximately 7,000 employees, several hundreds of whom work outside the Netherlands. The head office is located in Rotterdam.

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