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Ørsted and TEPCO ink agreement

By: Tom Russell 18/01/2019 Ørsted

General Windfarms

Tokyo Electric Power Company Holdings, Inc. (TEPCO), one of the largest power companies in Japan, and offshore wind giant Ørsted have signed a memorandum of understanding to work jointly on offshore wind projects.

TEPCO has been exploring offshore wind business opportunities in Japan and overseas. Ørsted, which has been operating in the global offshore wind industry since it built the world’s first offshore wind farm in 1991, has constructed more than 25 offshore wind farms in Europe and has several large-scale offshore wind development projects in Europe, the US and Taiwan.

The two companies will work jointly on the Choshi offshore wind project near Tokyo, for which TEPCO has been carrying out a seabed survey to examine its feasibility and towards a strategic partnership for broader collaboration.

TEPCO Representative Executive Officer and President, Tomoaki Kobayakawa, commented: “We’re confident that the partnership combining TEPCO’s extensive expertise in the Japanese power business and Ørsted’s unparalleled track record in the offshore wind business will lead to success in the Choshi project. We hope that this first step paves the way for expansion beyond the coastlines of Japan for the development, construction, operation and ownership of offshore wind projects.”

“TEPCO is aiming to make renewable energy a core generating source by developing 6-7 GW of renewable energy projects in Japan and overseas. The partnership with Ørsted will provide us with a very strong platform to scale up our renewable energy business as one of our main pillars of business growth.”I

Ørsted explained that over 70% of Japan is mountainous, and around three quarters of its 127 million population live in urban coastal areas, which makes offshore wind an ideal source of large-scale renewable electricity generation for Japan.

Ørsted CEO and President, Henrik Poulsen, remarked: “Our vision is to create a world that runs entirely on green energy, and we look forward to expanding our presence in the Asia-Pacific region and bringing over two decades of offshore wind knowledge into this partnership for the Choshi project.”

“As the largest player in the Japanese electricity industry, TEPCO has deep insights into the local power market and the regulatory requirements. This MoU is the first step in Ørsted and TEPCO’s aspirations to deliver on Japan’s ambitions for domestic renewable power generation at a large scale and contribute to making Japan a leading offshore wind market in the Asia-Pacific. We welcome this first opportunity to work with TEPCO and look forward to strengthening our relationship further.”

Japan’s government recently committed to increase the deployment of renewables and passed a legislative foundation for designation of large-scale offshore wind development areas. In its Fifth Basic Energy Supply Plan from July 2018, the Japanese government targets a 10GW wind capacity (offshore and onshore) by 2030 as part of its ambition to reach a 22-24% renewable share of electricity generation by 2030.

For more information on offshore wind in the Asia-Pacific region, click here.

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Ørsted and TEPCO ink agreement

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