MOL eyes floating wind in Japan

Japanese shipping giant Mitsui OSK Lines (MOL) has agreed with Edinburgh-based developer Flotation Energy to jointly evaluate floating offshore wind opportunities in Japan, which has set a 45 GW offshore wind target by 2040.

The agreement builds on the 2 GW portfolio of offshore wind floater projects in Japan being developed by Flotation Energy, starting with Niigata and followed by other areas. As part of the agreement, MOL will jointly develop the local supply chain and Flotation Energy will manage overall project development.

“UK and Japan have a lot of similar background, both are island countries with limited energy resources, and the UK is ahead of Japan on offshore wind farm development. With Flotation Energy, who has vast experience in developing offshore windfarms in UK and internationally, MOL believes that this collaboration would accelerate the floating offshore wind farm development in Japan market,” said Hirofumi Kuwata, managing executive officer, deputy director general at MOL’s energy and offshore business unit.

Japan’s largest shipowner by fleet numbers has been diversifying its business portfolio, including the offshore wind sector. Earlier this year, MOL announced plans to further focus on offshore renewables opportunities and subsequently signed a memorandum of understanding with compatriot Kokusai Cable Ship to work together on the installation of subsea power cables.

Adis Ajdin

Adis is an experienced news reporter with a background 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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