Aker Offshore Wind and Mainstream Renewable Power have closed a deal that will see them take an initial 50% ownership stake in Progression Energy’s 800 MW floating offshore wind project in Japan.
The project is a well-formed early-stage development opportunity, and the site has been identified as ideal for floating wind, Aker Offshore Wind said yesterday.
As a consortium, the three companies bring together complementary capabilities and experience. “Aker Offshore Wind, as a part of the Aker group of companies, is able to leverage decades of offshore and floating expertise, whilst Mainstream brings a global leadership position in offshore wind development. Progression Energy has a successful track record in recognizing markets with strong fundamentals early and positioning itself for success. Progression Energy has a team established in Japan with experience in engaging stakeholders such as fishing unions and securing permits for its multiple projects,” Aker said in a statement.
Japan aims to expand offshore wind energy capacity to 10 GW by 2030 and 30-45 GW by 2040, according to the Ministry of Economy, Trade, and Industry (METI). Project areas for offshore floating wind will be put to auction for interested companies to submit their proposals.
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