DEME, Penta-Ocean to create JV for Japanese offshore wind

DEME Offshore, part of Belgian dredging group DEME, and Japanese marine contractor Penta-Ocean Construction Co Ltd (TYO:1893) have agreed to form a joint venture (JV) to target the Japanese offshore wind market.

The companies said today they are in the process of setting up a joint company that will be owned 51% by Penta-Ocean and 49% by DEME Offshore. The agreement follows a March 2020 memorandum of understanding to collaborate on offshore wind construction in Japan.

According to the announcement, the JV will combine DEME Offshore's marine engineering knowledge and renewables experience with Penta-Ocean’s "highly specialised marine construction technology."

The move comes as Japan, which aims for 10 GW of offshore wind by 2030, is expected to hold its first wind farm auction round this year. The country has favourable wind conditions, but the subsoils present a challenge, the partners explain.

"Demonstrating our confidence in the vast potential of the Japanese market, and our willingness to support the sector, we are also considering bringing DEME Offshore equipment into Japan," said Niels van Berlaer, DEME Offshore business unit director Asia-Pacific.

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