Spain's Iberdrola enters the Japanese offshore wind market

The Spanish energy group Iberdrola has 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.

In July 2020, the Ministries of Economy, Trade and Industry (METI) and of Land, Infrastructure, Transport and Tourism (MLIT) identified 10 areas as potentially suitable for offshore wind development. Four areas are more advanced: Aomori Prefecture off the Sea of Japan (north side); Aomori Prefecture off the Sea of Japan (south side); Happo Town, Akita Prefecture and Off Noshiro City; Off Eshima, Saikai City, Nagasaki Prefecture. The preparation process, which comprises wind and geological surveys and the formation of councils to consult communities, will start immediately. In addition, six areas have been selected as promising for future development: Off Hokkaido Iwa and Minamishiribeshi area; Off the coast of Hiyama, Hokkaido; Mutsu Bay, Aomori Prefecture; Akita Prefecture Katagami City and Akita City Offshore; Off the coast of Yusa Town, Yamagata Prefecture; Off the coast of Murakami and Tonai in Niigata Prefecture. In August 2019, the Japanese government identified 11 areas for offshore wind power promotion in 5 prefectures of Japan, including four promising areas.

Earlier in September 2020, Electric Power Development (J-Power), JERA, and Equinor created a consortium to jointly evaluate and work towards submitting a bid for offshore wind power projects in Akita Prefecture off Noshiro City, Mitane Town, and Oga City, and off Yurihonjo City.