Page 11 - AsiaElec Week 11 2022

AsiaElec RENEWABLES AsiaElec

Aker, Mainstream acquire

50% of Progression’s

JAPAN
AKER Offshore Wind and Mainstream Renew- By the end of this decade, Japan, South Korea,
able Power have closed the transaction on Norway, France and the United Kingdom are
acquiring a 50% ownership stake in Progression likely to be the top five floating markets globally,
Energy’s 800 MW floating wind project in Japan. said the report.
The project is a well-formed early-stage Japan aims to expand offshore wind energy
development opportunity, and the site has been capacity to 10 GW by 2030 and 30-45 GW by
identified as ideal for floating wind, said Aker. 2040, according to the Ministry of Economy,
With the successful closing of the transac- Trade and Industry. Project areas for offshore
tion, the parties will now collectively continue to floating wind will be put to auction for interested
mature the project, the companies said. companies to submit their proposals.
Norway-based Aker Offshore Wind is able to “We are pleased to join the floating wind
leverage decades of offshore and floating exper- ambition in Japan. As an early pioneer in floating
tise, whilst Ireland-based Mainstream brings wind power, Japan is now positioned to benefit
a global leadership position in offshore wind from our access to Principle Power’s field-proven
development, they said. WindFloat floating offshore technology and our
Progression Energy, headquartered in ability to accelerate its deployment at scale with
Hawaii, has a successful track record in recognis- the local partners through industrialization,”
ing markets with strong fundamentals early and said Philippe Kavafyan, Chief Executive Officer
positioning itself for success. Progression Energy of Aker Offshore Wind.
has a team established in Japan with experience “We are delighted to partner with Aker Off-
in engaging stakeholders such as fishing unions shore Wind and Progression Energy to expand
and securing permits for its multiple projects, our growing offshore wind footprint in the APAC
said Aker. region, where we believe we will significantly
The news is important because of the impor- contribute to the growth of the emerging Japa-
tance of deep-water ocean for floating wind nese offshore wind sector,” said Mary Quaney,
projects. The technology is central to global Chief Executive Officer of Mainstream.™
ambitions to reach Net Zero by 2050, said the
Global Wind Energy Council in a recent report.

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