Aker Offshore Wind and Mainstream to buy stake in Japanese floater

Norway’s Aker Offshore Wind and its Dublin-based partner Mainstream Renewable Power have been selected as the preferred bidder to acquire an initial 50% stake in Progression Energy’s 800 MW floating offshore wind project in Japan.

The two companies will now enter into exclusive negotiations with Progression Energy with a view to establishing a special purpose vehicle in the coming weeks, to continue collectively developing the project.

The project is an early-stage development asset and Progression’s CEO, Chris Swartley, believes working in partnership with Aker Offshore Wind and Mainstream will bring a unique set of strengths that will be vital in helping the company advance its project to a final investment decision.

Japan aims to expand offshore wind energy capacity to 10 GW by 2030 and 30-45 GW by 2040, and project areas for offshore floating wind will be put to auction for interested companies to submit their proposals.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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