The joint venture was formed by Shizen Energy and Northland Power to develop early stage offshore wind projects in Japan
Tokyo Gas joins Chiba offshore wind joint venture in Japan. (Credit: Thomas G. from Pixabay.)
Japanese natural gas provider Tokyo Gas has joined a joint venture of Shizen Energy and Northland Power for the development of offshore wind power projects in Japan.
Last year, Shizen Energy has formed a 50:50 joint venture with a global power producer, Northland Power and established Chiba Offshore Wind, which will be the development vehicle for the projects.
Under the terms of the latest announcement, Tokyo Gas will became a shareholder of Chiba Offshore Wind.
The partnership will form a combined team of more than 30 people, consisting of management and employees from each of the three companies, to work together on the projects.
With extensive experience in offshore wind development, Northland Power is a global developer, owner and operator of sustainable infrastructure assets.
Shizen Energy has developed approximately 1GW worth of renewable power within Japan and overseas.
Tokyo Gas is looking to expand renewable energy business
The development vehicle is developing the projects off the Pacific Ocean coastline of Chiba prefecture and is aiming to achieve promising area designation.
Furthermore, Tokyo Gas is looking to expand its renewable energy business domestically and overseas, in order to achieve its 5GW renewable energy target by 2030.
Tokyo Gas stated: “The aim of the company is to achieve its “Net Zero CO2” objective as set out in the Group Management Vision, “Compass 2030”.”
Last month, Tokyo Gas and First Gen Corporation have reached a joint cooperation agreement (JCA) to pursue construction and operation of an Interim Offshore LNG Terminal in Batangas City, Southern Luzon Island, Philippines.