News listings

energy-pedia alternative energy

Japan flagJapan

Central & SE Asia / Australasia >>> Japan

Japan: TEPCO and Orsted agree to establish a joint venture company for offshore wind in Choshi


18 Mar 2020

Photo - see caption

Tokyo Electric Power Company Holdings, Incorporated (TEPCO), the largest power company in Japan, and Ørsted, the world's leading offshore wind developer, have agreed to establish a joint venture company, Choshi Offshore Wind Farm K.K., with the intention of working towards a joint bid in the Choshi-city offshore wind promotion area.

Photo - see caption

In January 2019, TEPCO and Ørsted signed a memorandum of understanding to work jointly on offshore wind projects and have since then been working together to establish a framework and organizational structure for joint development of the Choshi Offshore Wind Project.

TEPCO and Ørsted, having formalized their collaboration to develop the Choshi Offshore Wind Project, 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.

TEPCO Representative Executive Officer and President, Tomoaki Kobayakawa, says:

'TEPCO and Ørsted have been making excellent progress in developing our partnership and we are ready to see successful development of the Choshi Offshore Wind Project. 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.'

'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.'

Ørsted Chief Executive Officer, Henrik Poulsen, says:

'I am pleased to see our close collaboration with TEPCO for more than one year has led to the successful establishment of the joint venture company for the Choshi Offshore Wind Project. With Ørsted's strong global capabilities and TEPCO's local expertise, we are well prepared and dedicated to participating in the upcoming auction.'

'This joint venture is not only a significant step in Ørsted and TEPCO's efforts to deliver on Japan's ambitions for domestic renewable power generation, but also a landmark moment for Ørsted's market entry in Japan and for our aspirations to help Japan become a leading offshore wind market in Asia Pacific.'

Original article link

Source: Orsted





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 356

Completed Deals

Completed Upstream Deals: 5475

Company Profiles

Current Company Profiles: 2720

Corporate Activity

Current Corporate Activity articles: 3485

Companies Looking

Current number of articles: 438

Company Sales

Current Company Sales articles:1419

Geostudies

Current Geostudies articles: 731

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

SLR Consulting logo
Bayphase
Geoespace
energy365
OPC
Rose & Assocs 149
KL Publishing
Union Jack Oil 149
Government of South Australia
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com