- Japanese shipping giant Mitsui OSK Lines (MOL) has agreed with Edinburgh-based developer Flotation Energy to jointly evaluate floating offshore wind opportunities in Japan, which has set a 45 GW offshore wind by 2040.
- The agreement builds on the 2 GW portfolio of offshore wind floater projects in Japan being developed by Flotation Energy, starting with Niigata and followed by other areas.
- As part of the agreement, MOL will jointly develop the local supply chain and Flotation Energy will manage overall project development.
- Japan’s largest shipowner by fleet numbers has been diversifying its business portfolio, including the offshore wind sector.
Mitsui OSK Lines (MOL) and Flotation Energy, an Edinburgh-based developer, have agreed to collaboratively study floating offshore wind potential in Japan, which has set a 45 GW offshore wind target for 2040 as reported by Splash247.
MOL and Flotation Energy plc (“Flotation Energy”) have agreed to collaborate on evaluating offshore wind development potential in Japan. The arrangement adds on Flotation Energy (Japan) Co. Ltd.’s 2GW portfolio of offshore floating wind projects in Japan, which began in Niigata and will continue in other places. MOL and Flotation Energy will collaborate to build a local supply chain, while MOL will oversee overall project development.
“As Flotation Energy expands its foothold in Japan, the relationship with MOL is a crucial step forward. We bring a novel perspective to the implementation of offshore wind projects, and we look forward to collaborating with MOL to deliver floating offshore wind in Japan”, Flotation Energy’s Director of International Operations, Tim Sawyer stated.
” The United Kingdom and Japan have a lot in common: both are island countries with limited energy resources, and the United Kingdom is ahead of Japan in terms of offshore wind farm development. MOL believes that this collaboration with Flotation Energy, which has extensive experience establishing offshore wind farms in the United Kingdom and worldwide, will speed up the development of floating offshore wind farms in Japan. MOL has extensive experience in the construction, ownership, operation, and management of ships and offshore floating constructions. These will be extremely beneficial to the construction of offshore wind farms in Japan and the rest of Asia.”
MOL’s Managing Executive Officer and Deputy Director-General for Energy and Offshore Business Unit, Hirofumi Kuwata, stated. The alliance intends to develop and construct offshore wind projects in Japan in order to help the government meet its 45 gigawatts (GW) offshore wind objective by 2040, as part of a larger ambition to achieve carbon neutrality by 2050.
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