The Spanish energy group Iberdrola has reached an agreement with Cosmo Eco Power, an affiliate of Cosmo Energy, and engineering firm Hitz to jointly develop the 600 MW Seihoku-oki offshore wind project in Aomori prefecture in north-western Japan. The Seihoku-oki project should enter round 2 of the capacity auction planned by the Japanese government between 2021 and 2022. The agreement is subject to regulatory approvals and expected to take place 6 months after the complete acquisition by Iberdrola of the Japanese renewable project developer Acacia Renewables.
In September 2020, Iberdrola entered into an agreement with Macquarie’s Green Investment Group (GIG) to enter the Japanese offshore wind market by acquiring the Japanese renewable project developer Acacia Renewables. The Japanese company currently has two offshore wind projects under development, with a combined capacity of 1.2 GW and that could be operational by 2028. In addition, it also has 4 other projects in its pipeline, with a total capacity of 2.1 GW. Iberdrola will hold an equal share in the six projects alongside GIG, and the partners will jointly develop the portfolio.
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