Marubeni Corporation has entered into an agreement with the UK Government regarding a “comprehensive cooperation” on clean energy projects that will realise £10bn of investment.
The MoU affirms the partnership between the UK Government and Marubeni, indicating the UK Government’s commitment to supporting Marubeni’s plans, with its partners, to invest approximately £10bn in the next 10 years in offshore wind and also low carbon hydrogen.
The UK government has committed to the UK achieving net zero greenhouse gas (GHG) emissions by 2050 and is also aiming, by 2030, to deploy offshore wind farms with a total capacity of up to 50GW, which will include up to 5GW of floating offshore wind farms.
It is also targeting 10GW of production capacity of low carbon hydrogen.
In November 2021, Marubeni signed an MoU with Scottish Enterprise on comprehensive collaboration for the decarbonisation of Scotland through floating offshore wind and green hydrogen businesses.
Marubeni will use its collaboration with the UK government and local governments to promote clean energy projects in the UK and contribute to the UK’s goal of achieving net zero GHG emissions, while also feeding back the knowledge and experience gained through its UK operations to Japan, thus actively contributing to Japan’s decarbonisation efforts.