Mitsubishi Heavy Industries (MHI) and Copenhagen Infrastructure Partners (CIP) have formed a joint venture for the development of offshore wind projects in Hokkaido, Japan
The joint venture is jointly owned by MHI (50%) and CIP (50%), and a team with experts from both owners will be established.
The partners said they want to be ‘significant players’ in the Japanese offshore wind market, which is expected to experience significant growth. The partnership will jointly develop projects in Hokkaido, where conditions are attractive for offshore wind.
As highlighted recently by OWJ, partnerships between established European players and Japanese companies are expected to play a key role in the offshore wind market in the country, which is expected to quickly become one of the Asia Pacific region’s largest.
MHI already has a significant presence in offshore wind via the joint venture MHI Vestas Offshore Wind, which has successfully delivered turbines in Europe and is expanding its business to emerging markets in Asia Pacific. As part of its growth strategy, focusing on the entire value chain of the offshore wind power business, MHI has agreed with CIP to participate in the Japanese offshore wind market.
CIP is a leading global fund management company within renewable infrastructure investments established in 2012, having seven funds under management.
MHI president and chief executive Kentaro Hosomi said, “MHI’s partnership with CIP, a company with extensive experience in offshore wind projects in the world, is a very meaningful starting point for MHI’s offshore wind generation business, which is one of our growth strategies.
“MHI is excited to develop the offshore wind generation business through partnership with CIP, leveraging MHI’s long experience in the wind turbine OEM business and onshore wind generation business in Japan and elsewhere.”
CIP partner Michael Hannibal said, “We are excited to announce the partnership with MHI for the joint development in the Hokkaido area. This is an ideal partnership combining the expertise of the partners. MHI brings innovative technical solutions and extensive local knowledge and CIP brings offshore wind development and investment experience to the partnership.”
Riviera held a series of webinars on offshore wind in June. These are available to view in our webinar library