Aker Offshore Wind to buy stake in floating wind project in Japan

Aker Offshore Wind to buy stake in floating wind project in Japan

19 Aug 2021

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

The two companies will start exclusive talks with Progression Energy to establish a Special Purpose Vehicle (SPV) in a few weeks for the development of the project.

The three companies are expected to work together as a consortium, combining their capabilities and experience.

Aker Offshore Wind will contribute its offshore and floating expertise, Mainstream its experience in offshore wind development and Progression Energy its floating offshore wind development experience.

According to Japan’s Ministry of Economy, Trade and Industry (METI), the nation aims to expand its offshore wind energy capacity to 10GW by 2030 and 30-45GW by 2040.

For more information visit Aker Offshore Wind’s website.

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