Offshore Wind Firm SSE Pacifico Created in Japan

OE Staff
Monday, November 1, 2021

UK-based renewable energy giant SSE Renewables has closed the deal to form a new joint ownership company, SSE Pacifico, which will pursue the development of offshore wind projects in Japan. 

The deal includes the acquisition by SSE Renewables of an 80% interest in an offshore wind development platform from Pacifico Energy. The total consideration at closing is $US208million of which $US30 million is deferred consideration subject to a number of conditions.

SSE Renewables has also confirmed that Mike Seaton, currently Director of Development, will take up the role of CEO of SSE Pacifico, working alongside Executive Vice President and COO Dai Karasawa who joins from Pacifico Energy.

"By combining the significant local preparatory development work undertaken by the experienced Pacifico Energy team with SSE’s expertise in developing, constructing, and operating offshore wind farms, and balance sheet strength, SSE-Pacifico will progress its 10GW portfolio of early-stage development opportunities, with the most advanced aiming to enter bid rounds before or in the mid-2020s," SSE Renewables said.

Japan plans to have 10GW of installed offshore wind capacity by 2030 and 30-45GW by 2040. The targets are supported by a commitment to run regular offshore wind auctions for support.

"The new company will continue to collaborate fully and openly with local communities and authorities and aim to provide the best-in-class integration of offshore wind farms with the local environment," the company, which is developing the world largest wind farm - 3.6GW Dogger Bank wind farm in the UK, said.

Categories: Energy Renewable Energy Industry News Offshore Wind Activity Renewables

Related Stories

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Woodside Finds South Korean Partners to Advance LNG Value Chain

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas 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