J-POWER and ENGIE Form Offshore Wind Bond

Tokyo-based Electric Power Development Co., Ltd. (J-POWER) and ENGIE have signed a Memorandum of Understanding (MOU) to a non-exclusive collaboration for power projects, particularly in large-scale commercial offshore wind projects.

To promote and expand Japan’s renewable energy in the future, J-POWER and ENGIE believe that offshore wind power generation is a promising technology and therefore joint efforts shall be undertaken as part of this MOU to improve the competitiveness of the technology, including floating offshore wind power generation.

Additionally, the two companies will continue discussions for further collaborations in a variety of projects in Japan, Europe and other regions.

ENGIE has significant in-house offshore wind experience with 2.5 GW under development and is currently expanding offshore wind power by using floating technologies. ENGIE aims to leverage its European experience to expand globally, including in Japan.

In April this year, J-POWER announced its goal to develop 1,000MW of renewable energy by 2025. The company is working on expanding renewable energy, such as promoting commercialization of offshore wind power generation project (output capacity is maximum 220,000 kilowatts) in Kitakyushu City, Hibikinada District, and its ambition is the further development of the offshore wind capacity in Japan and in Europe.