Copenhagen Infrastructure Partners (CIP) is partnering with Tokyu Land Corporation (TLC) to develop an offshore wind project off Japan.
CIP has entered the joint venture on behalf of its fund Copenhagen Infrastructure IV K/S (CI IV), to co-develop the Aomori South offshore wind project, located in northern Japan.
The new joint venture company, Aomori South Offshore Wind GK, is developing the site in order to participate in the upcoming auction.
A joint project team is leading the development of the project, drawing on TLC’s track record of “revitalising local communities and extensive renewable energy expertise” in Japan, and CIP’s capabilities in offshore wind development and the procurement and financing of large-scale renewable energy projects.
The shareholders and project team are working in close collaboration with local stakeholders and communities, with a focus on ensuring substantial benefits to the local and regional economy.
The Japanese government is targeting 10GW of offshore wind capacity by 2030 and between 30GW to 45GW by 2040 as part of its target to reach net zero emissions by 2050.