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Japan’s Inpex acquires shares in European offshore wind

© Shutterstocklow wind speeds distraction
Wind turbine from aerial view, Drone view at windpark westermeerdijk a windmill farm in the lake IJsselmeer the biggest in the Netherlands,

Japanese exploration and production company Inpex (TYO:1605) is expanding its footprint in offshore wind after acquiring shares of an offshore wind power generation company in the Netherlands. It has also established a UK-based renewable energy division to focus on Europe.

Earlier this month, Inpex announced it had agreed to enter a stock transfer agreement with Diamond Generating Europe, a Dutch registered, wholly owned second generation subsidiary of Mitsubishi Corporation, and acquire a 50% stake in the Luchterduinen offshore wind farm and a 15% stake in the Borssele III/IV offshore wind farm operating off the coast of the Netherlands.

This agreement was made via INPEX Renewable Energy, newly established in the UK, with the aim of promoting INPEX’s renewable energy business in Europe. The completion of the agreement is subject to approvals by Dutch authorities and others.

The Luchterduinen offshore wind farm is located 23 kilometers offshore Noordwijk and has been in commercial operation since September 2015 with an output scale of 129 megawatts produced by 43 3-megawatt units.

The Borssele III/IV offshore wind farm is located 22 kilometers off the coast of Westkapelle and has been in commercial operation since January 2021 with an output scale of 731.5 megawatts produced by 77 9.5-megawatt units.

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