Mitsubishi Heavy, CIP JV to Develop Offshore Wind Farms in Hokkaido, Japan

Friday, July 31, 2020

Mitsubishi Heavy Industries (MHI) and Copenhagen Infrastructure Partners (CIP) have entered into a 50-50 joint venture regarding the development of offshore wind projects in Hokkaido, Japan.

"The partners have high ambitions to be significant parties in the Japan offshore wind market which is expected to experience significant growth. The partnership will jointly develop projects in Hokkaido, where conditions are attractive for offshore wind," CIP

MHI is already greatly present in the offshore wind space through the joint venture MHI Vestas Offshore Wind, a specialist supplier of offshore wind turbines.

"As part of its growth strategy, focusing on the entire value chain of the offshore wind power business, MHI has agreed with CIP to participate in the Japan offshore wind market," MHI said.

CIP is a global fund management company within renewable infrastructure investments established in 2012, having seven funds with approximately EUR 10 billion under management, investing in offshore wind, onshore wind, power transmission, biomass, “waste to energy” and solar projects. CIP entered the Japanese market in 2018, with the ambition to contribute to Japan’s delivery on the renewable energy target.

"MHI’s partnership with CIP, a company with extensive experience in offshore wind projects in the world, is a very meaningful starting point for MHI’s offshore wind generation business, which is one of our growth strategies. MHI is excited to develop the offshore wind generation business through a partnership with CIP and by leveraging MHI’s long experience in the wind turbine OEM business and onshore wind generation business in Japan and overseas”, says Kentaro Hosomi, President and CEO, Energy Systems, Mitsubishi Heavy Industries.

"We are excited to announce the partnership with MHI for the joint development in the Hokkaido area. This is an ideal partnership combining the expertise of the partners. MHI brings innovative technical solutions and extensive local knowledge where CIP brings global state of the art offshore wind development and investment experience to the partnership”, says Michael Hannibal, Partner in Copenhagen Infrastructure Partners.

While offshore wind projects in Japan have yet to reach utility-scale capacity, the Japan Wind Power Association said on Thursday, as reported by Reuters, that it aims to expand the country's offshore wind power installed capacity to 10 gigawatts(GW) in 2030 and 30-45 GW in 2040.

"Japan has huge potential for building large-scale offshore wind farms, 128 GW potential for fixed-bottom and 424 GW for floating," Jin Kato, president of the JWPA, told a news conference. Read more here.


Categories: Energy Activity Asia Renewables Offshore Wind

Related Stories

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Malaysia's Petronas Plans Job Cuts

Japan's Mitsui Eyes Alaska LNG Project

Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

Current News

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com