Mitsubishi and Barclays to Acquire London Array’s Subsea Cables (UK)

Two subsea cables which connect the London Array offshore wind farm to the shore are about to be bought by Mitsubishi Corporation and Barclays Plc investment fund, Reuters informs.

The investment of around JPY 100 billion includes the acquisition of 55km of power transmission cable and the accompanying offshore transformer facilities, which the companies are obtaining from the consortium that constructed the London Array.

A 50-50 joint venture will be established shortly to supervise the cable transmission operations.

September 02, 2013