Shizen Energy, Northland form offshore wind JV targeting 600 MW in Japan
Wind turbine in Japanese waters. Author: mmatsuura.
Japanese firm Shizen Energy Inc has agreed to partner with Canadian power producer Northland Power Inc (TSE:NPI) to develop around 600 MW of offshore wind projects in Japan, the former announced today.
The companies will establish a 50/50 joint venture (JV) named Chiba Offshore Wind Inc as the development vehicle through which they will pursue early stage offshore wind development opportunities in Chiba prefecture.
With the signing of this agreement, Northland debuts in the Japanese offshore wind industry, the firm's president and CEO, Mike Crawley, stated.
In Asia, Northland owns a 60% equity stake in the 1,044-MW Hai Long offshore wind project that is currently under development in Taiwan.
Japan has a goal of reaching 10 GW of wind capacity, both onshore and offshore, by 2030. This forms part of its objective to achieve a 22%-24% renewable share in its electricity generation by the same year.