Copenhagen Infrastructure Partners (CIP) and Tokyo Land Corporation are teaming up to develop the Aomori South offshore wind project in northern Japan.
The pair have established a new joint venture company, Aomori South Offshore Wind GK, which is developing the site in anticipation of participating in the upcoming auction.
A joint project team is leading the development of the project, drawing on Tokyo Land’s strong track record of revitalising local communities and extensive renewable energy expertise in Japan, and CIP’s strong capabilities in offshore wind development and the procurement and financing of large-scale renewable energy projects across the globe, they said Thursday.
The Japanese government is targeting 10 GW of offshore wind capacity by 2030 and between 30 to 45 GW by 2040 as part of its target to reach net-zero emissions by 2050.
Experts in international trade are predicting the Asia-Pacific region will lead the world in offshore renewables growth post-Covid-19, creating a swathe of opportunities for Scottish supply chain companies. With Japan expected to be the world leader in offshore renewables growth.
The offshore wind market in Asia is expected to experience massive expansion over the next five to 10 years, particularly in the more advanced economies of Taiwan, Japan and South Korea, as governments face increasing pressure to focus on climate change, renewable energy sources, and hit their net-zero emissions targets.