Home World Hokutaku and MOL execute Wind Power Fund Investment Project

Hokutaku and MOL execute Wind Power Fund Investment Project

Hokutaku and Mitsui O.S.K. Lines,announced that as the first project, the Hokutaku MOL Wind Energy Investment Limited Partnership, which was established by Hokutaku and MOL, executed an investment in Hokutaku Corporation, a special-purpose company that holds a 10% stake in Hibiki Wind Energy .

Hibiki Wind Energy is gearing up for construction of the “Kitakyushu-Hibikinada Offshore Wind Farm,” one of the largest offshore wind projects in Japan, and already signed major contracts for various phases of the project by the end of 2022, aiming to start commercial operation by the end of FY2025.

As a follow-up project, MOL and Hokutaku have decided to invest in a joint human resource development project (Note 2) from the Hokutaku-MOL Wind Power Fund to provide training facilities for the operation, maintenance, and management of offshore wind power generation in Kitakyushu.

The Hokutaku/MOL Wind Energy Fund will carry forward investment in the offshore wind value chain, which is considered the key to renewable energy, contributing to the realization of a decarbonized society.

(Outline of Hokutaku/MOL Wind Energy Fund)

Name Hokutaku MOL Wind Energy Investment Limited Partnership
Established December 2021
Address 5-8-6 Kyokushin 1 Jo, Asahikawa-shi, Hokkaido
Operating period About 20 years since its establishment
Operator (General Partner) Hokutaku Co., Ltd.

(Outline of Hibiki Wind Energy Co., Ltd.)

Location Wakamatsu, Kitakyushu-shi
Established April 17, 2017
Business Businesses related to offshore wind power generation and electricity sales
Maximum power output 220,000kW
Shareholder Composition/ Investment Ratio Kyuden Mirai Energy Company, Incorporated 30%
Electric Power Development Co., Ltd. 40%
Hokutaku Co., Ltd. 10%
Seibu Gas Co., Ltd. 10%
Kyudenko Corporation 10%
Website http://hibikiwindenergy.co.jp/pdf/hwe_english.pdf?20210623
Previous articleAllied Weekly Market Review Week 09
Next articleThe Republic of Panama signs important agreements with the Republic of Antigua and Barbuda