Tohoku Electric Power, Eneos Corporation and Japan Renewable Energy Corporation are to jointly develop the 155MW Happo Noshiro offshore wind farm off the coast of Japan.
The project will be located off the coast of Noshiro city and Happo town in the prefecture of Akita.
The wind farm will comprise of 22 turbines.
It is expected to be operational in 2024.
Meanwhile, Tohoku Electric Power has issued a ¥10bn (€80m) green bond, the proceeds of which will be used for expanding the company’s renewable energy portfolio.
Tohoku said the money will be used for new investment and refinancing related to the development, construction and renovation of renewables.
The bond was issued on 10 September with the closing date of the subscription 16 September.
It is open to institutional investors only, the company added.
Interest is 0.32% a year with the bond due to mature on 25 September 2030.
Tohoku said this is the second green bond that it has issued.