Ørsted and Tokyo Electric Power Company Holdings (TEPCO) have agreed to establish a joint venture company, Choshi Offshore Wind Farm K.K., to work together on the Choshi offshore wind project in Japan.
The companies will submit a joint bid in the Round 1 auction once the Japanese government officially designates the Choshi-city offshore wind promotion area, and further work together on future offshore wind opportunities in the area.
“Our two companies have agreed to establish a unique framework that enables us to effectively integrate and leverage strengths and expertise from both sides. We are confident this is key to succeed in the Choshi Offshore Wind Project,” said TEPCO Representative Executive Officer and President, Tomoaki Kobayakawa .
“In April this year, TEPCO will launch its renewable energy business arm, TEPCO Renewable Power, to make renewable energy a core generating source. The partnership with Ørsted and the establishment of Choshi Offshore Wind Farm K.K. will help drive business growth for the TEPCO group and TEPCO Renewable Power.”
To remind, at the beginning of 2019, TEPCO and Ørsted signed a memorandum of understanding to cooperate on offshore wind projects and have since been working to establish a framework and organizational structure for joint development of the Choshi ofshore wind project.
In September last year, TEPCO revealed plans to build a 370MW wind farm offshore Choshi City at an area of some 39km2 some 1.2km offshore.