Tokyo Gas makes investment in offshore wind farm in Portugal

SUNYA Energy

Tokyo Gas makes investment in offshore wind farm in Portugal

August 6, 2024

SUNYA Summary

- Tokyo Gas has acquired a 21.2 per cent stake in WindFloat Atlantic, a 25.2 MW floating offshore wind farm in Portugal. - WindFloat Atlantic has been operational since 2020 and is operated by Windplus, a subsidiary of Ocean Winds. - This is Tokyo Gas's first direct investment in an overseas floating offshore wind project. - Tokyo Gas and Ocean Winds have previously collaborated as co-shareholders of Principle Power, the developer of the floating foundation technology at WindFloat Atlantic. - Kentaro Kimoto, from Tokyo Gas, expressed optimism about leveraging knowledge from this partnership to promote floating offshore wind commercialization in Japan. - After the transaction, ownership of WindFloat Atlantic will be 65.17 per cent by Ocean Winds, 21.2 per cent by Tokyo Gas, and 13.63 per cent by Repsol. - Craig Windram, CEO of Ocean Winds, welcomed Tokyo Gas as a partner and emphasized the collaboration's potential to enhance floating offshore wind development in Japan. - This partnership could contribute to Japan's renewable energy objectives and support an environmentally sustainable energy future.

PRESS RELEASE

Tokyo Gas Makes First Investment in Overseas Floating Wind Project:

Source: https://www.offshorewind.biz/

August 6, 2024

Tokyo Gas has acquired a 21.2 per cent stake in WindFloat Atlantic, the 25.2 MW floating offshore wind farm in Portugal. WindFloat Atlantic, operated by Windplus, a majority-owned subsidiary of Ocean Winds, has been operational since 2020.

According to the Japanese company, this is Tokyo Gas’s first direct investment in an overseas floating offshore wind project. The WindFloat Atlantic co-ownership, however, is not the first time Tokyo Gas and Ocean Winds are cooperating as the two partners are also co-shareholders of Principle Power, the floating foundation developer whose technology is installed at WindFloat Atlantic.

“We are pleased to strengthen our collaborative relationship with Ocean Winds through our participation in WindFloat Atlantic. Moving forward, we will leverage the knowledge gained from this collaboration to work towards the large-scale commercialization of floating offshore wind power in Japan,” said Kentaro Kimoto, Tokyo Gas Representative Corporate Executive Officer, Vice President, CTO, and Chief Executive of Green Transformation Company.

Following the transaction, WindFloat Atlantic (through Windplus) will be owned by Ocean Winds (65.17 per cent), Tokyo Gas (21.2 per cent), and Repsol (13.63 per cent).

“We are thrilled to welcome our well-known partner Tokyo Gas to our journey of more than 10 years in developing, building and now operating WindFloat Atlantic,” said Craig Windram, CEO of Ocean Winds.

“This collaboration has the potential to advance floating offshore wind development in Japan, contribute to the country’s renewable energy goals and foster a resilient and environmentally conscious energy landscape for future generations.”

Tokyo Gas makes investment in offshore wind farm in Portugal

Recent Posts