Equinor, Jera and J-Power partner up and enter a joint bid agreement prior to Japan’s upcoming Round 1 offshore wind auction.
The three companies will jointly evaluate and work towards submitting a joint bid in the Round 1 auction once the Japanese government officially opens what will be country’s first offshore wind auction.
Establishing this consortium is in line with Equinor’s renewable strategy of building scale in core regions and develop growth options in selected markets to become a global offshore wind major.
“We have joined forces with Jera and J-Power, two strong local partners, to participate in Japan’s first offshore wind auction and develop what could potentially be Equinor’s first offshore wind farm in Japan”, says Senior vice president for Business development in New Energy Solutions in Equinor, Jens Økland.
The Japanese Government has dedicated Yurihonjo and Noshiro, two areas offshore the northern Japanese prefecture of Akita, as promotional zones for offshore wind, each representing an area for bottom-fixed offshore wind farms of approximately 400 MW and 700 MW respectively. The upcoming auction is anticipated to start within the next months, with bid submission taking place six months after the auction opens. Once the auction is closed, the results are expected to be announced towards the end of 2021. Potential wind farms would then tentatively be operative post 2025.
“Japan has a high potential to develop a market for offshore wind. Their ambitions to increase their renewable energy sources from today’s 15-16% to about 22-24 % by 2030 hereunder a target of 10 GW wind capacity to meet their climate change commitments and become more energy independent, present exciting opportunities. The opportunities long-term, are within both bottom fixed and floating offshore wind as waters in Japan are on average deeper than in other parts of the world. With Equinor being the leading floating offshore wind developer, we have the competence and technical skill needed and are ready to contribute long term to the country’s ambitious offshore wind plans,” says Økland.
Date: Sep 9, 2020