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Osaka Gas and Acacia Renewables forge alliance

By: Tom Russell 11/03/2020 Acacia Renewables

General Windfarms

Osaka Gas Co., Ltd. and Acacia Renewables K.K., part of Macquarie Group, have signed an agreement to cooperate on the development of offshore wind power generation in Japan. The two companies have commenced studies related to a specific project in Japan.

4C Offshore estimates that ~2.9 GW of offshore wind could be underway in Japan by 2030, based on projects in the pipeline. Later this year, the Japanese government is expected to launch it first offshore wind auction, with winners to be announced by the end of the year.

Osaka Gas has set the goal of developing and acquiring 1,000 MW of renewable energy power generation by fiscal 2030, and is targeting to developing more energy power resources. Currently, Osaka Gas is developing and operating over 600MW of renewable energy projects and owns eight onshore wind farms in Japan with a combined capacity of approximately 140MW.

Acacia is Macquarie’s Japanese renewable energy development platform and currently has several onshore and offshore wind projects under development across Japan. Furthermore, Macquarie has participated in 16 offshore wind projects overseas, including the development of Formosa 1 (128MW), Taiwan's first commercial offshore wind project, where together with Formosa 2 and Formosa 3 could deliver up to 2.5GW of energy in Taiwan.

Earlier today (9 March 2020), Macquarie’s subsidiary Green Investment Group signed an agreement with Japanese consortium JERA Co., Inc. and EnBW Energie Baden-Württemberg AG for Formosa 3. Under the agreement, JERE acquired a 43.75% share of the project. Both GIG (31.25%) and EnBW (25%) hold the remaining interest in the project.

For more information on offshore wind farms worldwide, click here.

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Osaka Gas and Acacia Renewables forge alliance

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