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Japan : Northland Power to Establish Joint Venture with Shizen Energy for Offshore Wind Projects in Japan
Publish Date : 02-Dec-2019
Northland Power Inc. announces the signing of an agreement with Shizen Energy Inc. (Shizen Energy) to jointly establish Chiba Offshore Wind Inc., a 50:50 joint venture, to develop early stage offshore wind development opportunities in Chiba Prefecture, Japan. The projects have a combined capacity of approximately 600 megawatts (MW).
Northland Power is a global developer, owner and operator of sustainable infrastructure assets with over 30 years of successfully developing, constructing and operating power projects over full lifecycle. With a global fleet of assets generating in excess of 2.4 GW, the Company has operating facilities in Canada, Latin America, and Europe. In addition, Northland has a project pipeline of 1.4+ GW under construction and advanced development, including Asia, where it owns a 60% equity stake in the 1,044 MW Hai Long project under development in Taiwan.
With its vision to take action for the blue planet, Shizen Energy has contributed to the development of approximately 1 gigawatt worth of renewable energy in Japan and is expanding its portfolio to include solar, onshore & offshore wind, biomass and hydro power generation. As Shizen Energy also aims to expand its global businesses, it completed the construction of its first overseas solar power plant in Brazil in July 2019. Further, Shizen Energy has started working on wind and solar projects in Vietnam and Thailand.
We are excited to partner on this joint venture with Shizen Energy, which marks Northlands entry into the burgeoning Japanese offshore wind industry, stated Mike Crawley, President and Chief Executive Officer of Northland. With Shizen Energys strong track record of developing and constructing renewable projects in Japan, and Northlands success developing, constructing and operating offshore wind farms globally, we view this agreement as an excellent opportunity to combine the strengths of the two companies to achieve something great.
Masaya Hasegawa, Shizen Energys Representative Director, commented: Taking action for the blue planet is our companys foremost priority, and we hope to pass the blue planet on to the future generations. To achieve this goal, we aim to grow as a company and cooperate with other businesses worldwide to shape our common future. We strongly believe that our partnership with Northland will allow us to put that vision into action and bring us a step closer to making a positive impact on the future of our blue planet.