Japanese conglomerate Mitsubishi Corp. is divesting part of its 33.4% stake in the 950MW Moray East offshore wind project in the UK, as the EDP Renewables (EDPR)-led project secures £2.6bn ($3.3bn) in financing.
Mitsubishi – which in March bought into the project via its power business platform Diamond Generating Europe (DGE) – will transfer 30% of Diamond Green to the KPIC Netherlands unit of Japanese utility Kansai Electric Power and 20% to its own finance vehicle Mitsubishi UFJ Lease & Finance Ltd.
