Gulf Oil and Gas accountACCOUNT

TEPCO & Orsted to Establish JV Company for Offshore Wind

Source: www.gulfoilandgas.com 3/18/2020, Location: Asia

Tokyo Electric Power Company Holdings, Incorporated (TEPCO), the largest power company in Japan, and Orsted A/S, the world's leading offshore wind developer, announced that they have agreed to establish a joint venture company, Choshi Offshore Wind Farm K.K., with the intention of working towards a joint bid in the Choshi-city offshore wind promotion area.

In January 2019, TEPCO and Orsted signed a memorandum of understanding to work jointly on offshore wind projects and have since then been working together to establish a framework and organizational structure for joint development of the Choshi Offshore Wind Project.

TEPCO and Orsted, having formalized their collaboration to develop the Choshi Offshore Wind Project, will submit a joint bid in the Round 1 auction once the Japanese government officially designates the Choshi-city offshore wind promotion area, and further work together on future offshore wind opportunities in the area.

TEPCO Representative Executive Officer and President, Tomoaki Kobayakawa, says "TEPCO and Orsted have been making excellent progress in developing our partnership and we are ready to see successful development of the Choshi Offshore Wind Project. Our two companies have agreed to establish a unique framework that enables us to effectively integrate and leverage strengths and expertise from both sides. We are confident this is key to succeed in the Choshi Offshore Wind Project."

"In April this year, TEPCO will launch its renewable energy business arm, TEPCO Renewable Power, to make renewable energy a core generating source. The partnership with Orsted and the establishment of Choshi Offshore Wind Farm K.K. will help drive business growth for the TEPCO group and TEPCO Renewable Power."

Orsted Chief Executive Officer, Henrik Poulsen, says "I am pleased to see our close collaboration with TEPCO for more than one year has led to the successful establishment of the joint venture company for the Choshi Offshore Wind Project. With Orsted's strong global capabilities and TEPCO's local expertise, we are well prepared and dedicated to participating in the upcoming auction."

"This joint venture is not only a significant step in Orsted and TEPCO's efforts to deliver on Japan's ambitions for domestic renewable power generation, but also a landmark moment for Orsted's market entry in Japan and for our aspirations to help Japan become a leading offshore wind market in Asia Pacific."

Wind Energy News in Japan >>

Netherlands/Holland >>  6/4/2020 - Vattenfall has taken final investment decision for Hollandse Kust Zuid 1-4 proceeding with the construction of what will be the world’s largest offsho...
Netherlands/Holland >>  6/3/2020 - Wind farm developer Orsted and DEME Offshore have successfully completed the installation of the 94 Borssele 1&2 foundations. The installation started...

Scotland >>  6/3/2020 - Total has entered into an agreement with SSE Renewables, to acquire a 51% stake in the Seagreen 1 offshore wind farm project for an upfront payment at...
Scotland >>  6/3/2020 - Subsea 7 announced the award of a major(1) contract by SSE Renewables for the engineering, procurement, construction and installation (EPCI) of the fo...

Scotland >>  6/3/2020 - SSE Renewables has taken a final investment decision to proceed with the Seagreen 1 offshore wind farm. Located in Scottish waters in the Firth of For...
United Kingdom >>  6/3/2020 - The Secretary of State for Business, Energy, and Industrial Strategy refused development consent for Vattenfall's application to build the Thanet Exte...




Japan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.