Inpex to buy stakes in 2 offshore wind farms in the Netherlands

Japanese oil and natural gas producer Inpex Corp (TYO:1605) said today it has agreed to acquire stakes in two wind farms offshore the Netherlands from a subsidiary of fellow Japanese company Mitsubishi Corp (TYO:8058).

Inpex will buy a 50% stake in the 129-MW Luchterduinen offshore wind farm and a 15% stake in the 731.5-MW Borssele III & IV offshore wind park.

The deal is between Inpex Renewable Energy Europe Ltd, newly set up in the UK, and Diamond Generating Europe BV, a wholly owned second generation subsidiary of Mitsubishi. It will need approvals by Dutch authorities and others.

The Luchterduinen array, consisting of 43 turbines of 3 MW, has been in operation since September 2015. The other 50% in the plant is owned by Dutch utility Eneco.

Borssele III & IV went online in January 2021 with 77 turbines of 9.5 MW. Besides Mitsubishi’s subsidiary, the complex is owned by Swiss investment manager Partners Group with a 45% holding, Royal Dutch Shell Plc with 20%, and Eneco and Van Oord each with 10%.

Inpex aims to beef up its renewable energy initiatives in line with its business development strategy to support a shift towards a net zero carbon society by 2050. The company says it can apply its experience to accelerate its geothermal power generation business and its offshore wind power generation business.

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