Tokyo Gas has acquired 21.2% stake in the WindFloat Atlantic floating wind farm, operational offshore Portugal since 2020, joining Ocean Winds and Repsol as partner.
The investment marks a new collaboration milestone between Tokyo Gas and Ocean Winds, who are already co-shareholders of Principle Power, a technology company for floating foundations, with the perspective of developing floating offshore wind in Japan.
It also represents Tokyo Gas's first direct investment in an overseas floating offshore wind power project.
Operated by Windplus, a majority owned subsidiary of Ocean Winds, the semi-submersible floating wind farm is located 20km off the coast of Viana do Castelo, Northern Portugal, and features three offshore wind turbines each rated at 8.4MW for a total capacity of 25.2 MW.
The new ownership structure of WindFloat Atlantic includes Ocean Winds (65.17%) - a 50/50 joint venture between Engie and EDP Renewables, Tokyo Gas (21.2%), and Repsol (13.63%).
“Moving forward, we will leverage the knowledge gained from this collaboration to work towards the large-scale commercialization of floating offshore wind power in Japan,” said Kimoto Kentaro, Tokyo Gas Representative Corporate Executive Officer, Vice President, CTO, and Chief Executive of Green Transformation Company.
“This collaboration has the potential to advance floating offshore wind development in Japan, contribute to the country’s renewable energy goals and foster a resilient and environmentally conscious energy landscape for future generations,” added Craig Windram, CEO of Ocean Winds.