Marubeni has confirmed plans to invest nearly £10bn along with its partners in clean energy projects in the UK over the coming 10 years.

In this regard, the Japanese trading house has signed a memorandum of understanding (MoU) with the UK government’s Department for Business and Trade.

Both parties aim for an extensive partnership on various clean energy projects, including offshore wind and green hydrogen businesses in the UK.

In May 2023, the Japanese trading house announced its intention to sign an MoU regarding the investment in offshore wind in Scotland and green hydrogen projects in Wales and Scotland.

The UK government intends to achieve net zero greenhouse gas emissions by 2050.

Besides, the government is planning to deploy offshore wind farms with a total capacity of up to 50GW by 2030. It will include up to 5GW of floating offshore wind farms as well as 10GW of production capacity for low carbon hydrogen.

Marubeni aims to utilise its collaboration with the British government and local governments to foster clean energy projects in the UK and help the country to achieve its goal of reaching net zero greenhouse gas emissions.

It will help the Japanese trading house to feed back the knowledge and expertise attained through its UK operations to Japan, thereby contributing towards Japan’s decarbonisation efforts.

Earlier this week, UK’s 3.6GW Dogger Bank offshore wind project started the first green energy production.

Located between 130km and 190km off England’s North East coast, the offshore wind project is being developed in three 1.2GW phases, namely Dogger Bank A, B, and C, by a joint venture (JV) between Equinor (40%), SSE Renewables (40%), and Vårgrønn (20%).