Author InfoLink
Updated September 21, 2020

Spanish utility company Iberdrola and Macquarie’s Green Investment Group (GIG) have formed a joint venture to co-develop a 3.3 GW offshore wind portfolio in Japan.

The portfolio consists of three floating and three fixed bottom wind projects.

Iberdrola will acquire Acacia Renewables, Macquarie’s renewable energy platform in Japan, and take forward the two wind farms that are under development. With a combined capacity of 1.2 GW, the two wind farms are expected to start commercial operation in 2028. Four other projects with a combined capacity of 2.1 GW are under planning now.

Acacia will focus on the development of offshore wind, while its existing onshore wind projects will be taken over by GIG.

The Japanese government aims at achieving 10 GW of wind capacity by 2030, of which 0.8 GW will come from offshore wind. At the meantime, the Japan Wind Power Association (JWPA) seeks to reach 10 GW of offshore wind capacity by 2030 and 37 GW by 2050.

Recently the offshore wind farm off the coast of Saikai City in Nagasaki Prefecture will begin environmental impact inspection on Sept. 28.

Wind InfoLink projects that the offshore wind capacity will reach 10.47 GW in 2030. Although the cumulative installed capacity only stood at 65.6 MW in 2019, the current progress of environmental impact assessment suggests that there’s already 23.38 GW in the pipeline, with 7.6 GW under review. Overall, Japan is likely to achieve 22-24% of renewable capacity with the development of offshore wind.

Source :
Iberdrola targets Japan as a new growth platform for renewables
Green Investment Group and Iberdrola to co-develop 3.3 GW offshore wind portfolio in Japan