TOKYO -- Japan's Mitsubishi Corp. is investing 650 billion yen ($6.2 billion) in offshore wind power projects in the U.K. and the Netherlands as falling costs fuel high hopes for the field as a key energy source.
The Japanese trading house has reached a deal to buy a 33.4% stake in the Moray East project from Spain's EDP Renewables. The 950-megawatt wind farm about 22km off the Scottish coast will be among the world's largest such projects, consisting of more than 100 turbines with output of 8MW to 9MW each. It is slated to begin operating in 2022.
