Japan's Marubeni and Partners to Invest $12.3B in UK clean energy

Yuka Obayashi
Thursday, October 12, 2023

Japan's Marubeni Corp has pledged to invest 10 billion pounds ($12.3 billion) with partners over the next decade in clean energy in the United Kingdom, according to a memorandum of understanding (MoU) signed on Wednesday. 

Marubeni and the UK government signed the MoU, which includes Scotland's floating offshore wind power business, in Tokyo. "Japan and the UK are both important markets as demand for offshore wind power, clean energy, and hydrogen are expected to grow," Hiroshi Tachigami, general manager of Marubeni's offshore wind and domestic renewable energy department, told reporters. 

Marubeni, which plans to invest around 1 billion pounds on its own, expects various support from the UK government, including helping the offshore wind power project to ensure stable revenue from selling power. 

Among the planned investments, the 3.6 gigawatt Ossian floating offshore wind farm in Scotland will be the biggest project, according to Marubeni. ($1 = 0.8143 pounds)

(Reuters - Reporting by Yuka Obayashi; editing by Muralikumar Anantharaman and Jason Neely)

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

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

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

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

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

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

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