- Japan’s TEPCO Renewable Power to buy Flotation Energy.
- Floatation Energy developed the world’s largest floating offshore wind farm.
Japan’s TEPCO Renewable Power has signed an agreement to buy Scottish floating offshore wind energy developer Flotation Energy. It is the Japanese company’s first investment in overseas wind power.
Floatation Energy, headquartered in Edinburgh, was established in 2018 and developed the world’s largest floating offshore wind farm at Kincardine. The company is interested in a 480MW fixed-bottom project in Morecambe in the Irish Sea and the floating 100MW White Cross scheme in the Celtic Sea. In addition, it is developing 13 wind projects totalling more than 12,000MW of capacity across the UK, Ireland, Taiwan, Japan and Australia.
In the future, TEPCO intends to work with Flotation Energy to obtain know-how and technologies for operating in the offshore wind business through project design, construction, operation and maintenance. Furthermore, it will develop a global pipeline to develop offshore wind power projects in Japan actively and overseas.
TEPCO Renewable Power President Masashi Nagasawa said Flotation Energy shares the company’s mission to “deliver clean, renewable energy and create a carbon-neutral society”. He added: “Flotation Energy’s experience and knowledge of the world’s biggest floating offshore wind development and their global network will undoubtedly accelerate the development of our offshore wind business domestically and internationally.”