Japanese oil major Inpex has agreed to enter into a stock transfer with Diamond Generating Europe, a Dutch-registered subsidiary of Mitsubishi Corporation, and acquire a 50% stake in the Luchterduinen offshore wind farm and a 15% stake in the Borssele III/IV offshore wind farm in the Netherlands.
The deal was reached through Inpex Renewable Energy Europe, newly established in the UK with the aim of promoting Inpex’s renewable energy business in Europe. The transaction is subject to the fulfillment of conditions precedent determined by the stock transfer agreement, including approvals by Dutch authorities and others.
The 129 MW Luchterduinen offshore wind farm is located 23 km offshore Noordwijk and has been in commercial operation since September 2015. Rotterdam-based Eneco and Inpex will each own 50% of the wind farm.
The 731 MW Borssele III/IV offshore wind farm stands 22 km off the coast of Westkapelle and has been in operation since January 2021. After the transaction is completed, Inpex will join the Swiss-based equity firm Partners Group, holding 45%, Shell with 20%, and Van Oord and Eneco with 10% each.
