JERA, the joint venture between the Japanese power utilities TEPCO and Chubu Electric, French state-owned investment company ADEME Investissement and IDEOL, a company specialised in floating offshore wind, have decided to create a common investment vehicle with the objective to develop 2 GW of floating offshore wind projects over the 2020-2025 period. The partners bet on the acceleration of floating wind power, and on upcoming tenders for commercial-scale floating offshore wind projects in Scotland (United Kingdom) and France. They also bet on the development of floating offshore wind in Japan, the United States and the rest of the world.
In March 2020, JERA signed an agreement with Macquarie’s Green Investment Group (GIG) and EnBW to buy a stake in the 1.9 GW Formosa-3 offshore wind project in Taiwan. Formosa-3 is now owned by JERA (43.75%), GIG (31.25%) and EnBW (25%). The 2.4 GW Formosa offshore wind complex consists of Formosa-1 (120 MW), which entered commercial operation in January 2020, Formosa-2 (376 MW) expected for 2021, and Formosa-3 (1,900 MW). JERA has already acquired a 32.5% stake in Formosa-1 (35% Ørsted, 25% Macquarie and 7.5% Swancor) and a 49% stake in Formosa-2 (26% Macquarie and 25% Swancor).