Akihabara News (Tokyo) \u2014 TEPCO Renewable Power has purchased full ownership of Flotation Energy, an offshore wind power company based in Scotland.<\/p>\n
\u201cFlotation Energy\u2019s experience and knowledge of the world\u2019s biggest floating offshore wind development and their global network will undoubtedly accelerate the development of our offshore wind business both domestically and internationally,\u201d explained TEPCO Renewable Power President Masashi Nagasawa. \u201cWe aim to contribute to stable supply of electricity mitigating the power price surge in the medium- to long-term that is linked to the recent fossil fuel price situation.\u201d<\/p>\n
Flotation Energy previously developed the massive floating offshore wind farm at Kincardine, fifteen kilometers off the coast of Aberdeen, Scotland.<\/p>\n
While the bulk of its interests are in the United Kingdom and Ireland, Flotation Energy has also been trying to expand into the Asia-Pacific, namely Australia, Taiwan, and Japan.<\/p>\n
However, the firm has yet to be awarded any of the offshore zones which it is eyeing in the Japanese market.<\/p>\n
This deal marks TEPCO Renewable Power\u2019s first investment in an overseas offshore wind developer. The financial terms of the purchase were not disclosed.<\/p>\n
TEPCO Renewable Power, in partnership with Denmark\u2019s Orsted, was widely regarded as the frontrunner in its bid to develop the Choshi offshore wind project in Chiba Prefecture, but it was unexpectedly beaten out by a Mitsubishi Corporation-led consortium when the auction results were announced last December.<\/p>\n
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Akihabara News (Tokyo) \u2014 TEPCO Renewable Power has purchased full ownership of Flotation Energy, an offshore wind power company based in Scotland. \u201cFlotation Energy\u2019s experience and knowledge of the world\u2019s biggest floating offshore wind development and their global network will … Continue reading
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\nSource: Akihabara News – TEPCO Snaps Up Scottish Offshore Wind Firm<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"