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Japan firm enters UK offshore wind market

Acquisition marks a Japanese enterprise’s first full scale entry into offshore wind utilising turbine installation vessels

The acquisition is a Japanese enterprise’s first entry into UK offshore wind
The acquisition marks a Japanese enterprise’s first full scale entry into offshore wind utilising turbine installation vessels

A Japan firm has entered into the UK offshore wind industry. Marubeni Corporation (Marubeni) and Innovation Network Corporation of Japan (INCJ) has entered into an agreement with Riverstone Holdings LLC, a US investment fund, for full acquisition of Riverstone’s wholly owned subsidiary company, Seajacks International Ltd. (Seajacks), a UK based offshore wind power service provider. Marubeni and INCJ are investing on a 50/50 share basis.

The acquisition marks the first full scale entry by a Japanese enterprise into the offshore wind power installation business utilising special turbine installation vessels (TIV).

Seajacks is a leading company in the offshore turbine and platform service industry, and has been providing efficient services with its one of a kind TIV to offshore wind farms, as well as oil and gas platforms predominantly in the North Sea.

Marubeni said: “In Europe, where renewable energy is already recognised as core source of power receiving strong support from the governments of countries in the EU, offshore wind power is growing at fast pace. New offshore wind power construction of 40,000MW, which corresponds to 40 nuclear power plants, is planned in the next decade alone.

“Seajacks is committed to catering to the increasing demand for installation services of new wind power turbines and platforms as well as the emerging demand for operation and maintenance services for existing installations, ” the company added.

Since last November, Marubeni has taken an equity stake in the 172MW Gunfleet Sand (UK) offshore wind farm and intends to extend its presence in the value chain for offshore wind power with the addition of Seajacks. At the same time, Marubeni is viewing other promising areas for offshore wind power as potential targets including North America, Japan and Asia.

Developments in turbine installation vessels will be a focus in the agenda for BigSwitch Offshore Wind. The international event, which Renewable Energy Technology (RET) is sponsoring, is taking place in Glasgow on 27th and 28th June. It aims to advance technological developments across global offshore wind by encouraging the European renewable energy industry to work with key delegations from the world’s biggest emerging markets, including China and India, as well as the US.

For more information on the event, please email RET Editor Heath Reidy at heath.reidy@bric.com.