Mainstream Renewable, Aker take stake in Japan floating wind project

LONDON : Wind and solar company Mainstream Renewable Power and Aker Offshore Wind have closed a deal which will give them a 50per cent stake in a 800 megawatt (MW) floating offshore wind project in Japan, the companies said on Monday.

The other 50per cent stake in the project belongs to renewable energy project developer Progression Energy.

The project is at early development stage and the site has been identified as ideal for floating wind and near good grid connections. Financial details were not disclosed.

Japan aims to expand its offshore wind energy capacity to 10 gigawatts by 2030 and to 30-45 GW by 2040 and plans auctions of areas for offshore floating wind.