Iberdrola signed a joint-venture agreement with Cosmo Eco Power and HitachiZosen Corp to collaborate on developing a 600 MW offshore wind farm in Japan, known as the Seihoku-oki project. The companies will come together to form the joint venture Aomori-Seihoku-Oki Offshore Wind Godo Kaisha to develop the project. The project site is located off the coast of the Aomori prefecture.
Launched in April 2019, Aomori-Seihoku-Oki Godo Kaisha has Cosmo Eco Power as the representative, with Iberdrola and Hitachi Zosen joining in. Among the companies, Cosmo Eco Power will have the largest share of contribution. Iberdrola was represented in the agreement by Acacia Renewables KK, a fully owned offshore wind platform in Japan. The project is expected to be a part of round two of the offshore wind auction round 2021-22 in Japan.
Japan seems to be on track to achieve its renewable targets. As per a report by the International Energy Agency, renewables accounted for 21.7 percent of Japan’s total power generation in 2020.The Japanese government had set a goal of increasing the renewable energy ratio to between 22 to 24 percent of the overall supply mix by fiscal 2030. In 2020, Japan generated 12.7 percent more renewable energy than the previous year. Solar power generation increased by 14.6 percent while wind and biomass increased by 16 percent and 30.3 percent, respectively.
