Aker Offshore Wind and Mainstream Renewable Power have closed a transaction to acquire a 50% stake in a Progression Energy 800MW floating offshore wind farm in Japan.
The unnamed project is a “well-formed early-stage development opportunity, and the site has been identified as ideal for floating wind”, said the developers.
The parties will now collectively continue to mature the project, they said in a statement confirming the deal, first announced last August.
Aker Offshore Wind chief executive Philippe Kavafyan (pictured) said: “We are pleased to join the floating wind ambition in Japan.
“As an early pioneer in floating wind power, Japan is now positioned to benefit from our access to Principle Power’s field-proven WindFloat floating offshore technology and our ability to accelerate its deployment at scale with the local partners through industrialization.”
Mainstream chief executive Mary Quaney said: “We are delighted to partner with Aker Offshore Wind and Progression Energy to expand our growing offshore wind footprint in the APAC region, where we believe we will significantly contribute to the growth of the emerging Japanese offshore wind sector.
“This will support the wider decarbonization of the economy and positively contribute to the country accelerating its net zero ambitions.”
Japan aims to expand offshore wind energy capacity to 10GW by 2030 and 30-45GW by 2040, according to the Ministry of Economy, Trade and Industry.
Project areas for offshore floating wind will be put to auction for interested companies to submit their proposals.