Wind Energy – Japan
bp has today announced its intention to explore offshore wind development in Japan in partnership with Marubeni.
Marubeni is one of the largest Japanese integrated trading and investment business conglomerates. For this purpose, the two companies have agreed to form a strategic partnership for offshore wind and potentially other decarbonisation projects, including hydrogen.
As part of their agreement, bp will join with Marubeni in their proposal for an offshore wind project off the coast in Japan – an area of exceptional wind resource – purchasing a 49% stake in the proposed project. The companies see this as a first step towards building a market-leading offshore wind position in Japan.
Associated with this agreement, bp will establish a local offshore wind development team in Tokyo.