Mitsui OSK Lines, Flotation Energy team up on Japanese offshore wind

Japanese shipping company Mitsui OSK Lines Ltd (TYO:9104), or MOL, and Edinburgh, Scotland-based Flotation Energy plc will jointly study opportunities for the development of offshore wind in Japan, MOL said today.

The partnership builds on a portfolio of 2 GW of floating offshore wind projects that Flotation Energy Japan Co Ltd is developing there.

The companies will work to develop a local supply chain and Flotation Energy will manage overall project development.

MOL expects the collaboration to accelerate the development of this segment in Japan. According to Hirofumi Kuwata, managing executive officer, deputy director general, energy and offshore business unit at the Japanese company, MOL’s knowledge in building, owning, operating and managing ships and offshore floating structures will contribute to the development of offshore wind farms in Japan and the Asian region.

The partners are looking to develop offshore wind projects to support the Japanese government’s target of having 45 GW of offshore wind by 2040, as part of its 2050 carbon neutrality goal.

Flotation Energy’s founders, Allan MacAskill and Nicol Stephen, developed the Kincardine floating wind farm in Scottish waters.

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