Japan’s Kansai Electric Power Co. (KEPCO) has signed a share subscription agreement with Ireland’s Simply Blue Group’s offshore wind development arm, Simply Blue Energy OSW (SBE OSW).
The strategic investment marks KEPCO’s first investment involving management participation in an offshore wind developer.
KEPCO will acquire a majority stake in SBE OSW through its wholly owned subsidiary, KPIC Netherlands BV.
Simply Blue Energy OSW is actively engaged in multiple offshore wind projects across Europe and elsewhere and possesses extensive experience and expertise in offshore wind development from the early stages of project formation.
With KEPCO’s investment, SBE OSW aims to accelerate the expansion of its offshore wind portfolio.
“This investment represents a pivotal moment for us at Simply Blue Energy OSW Ltd. The support from KEPCO provides the strength and resources needed to scale our operations and advance our offshore wind initiatives. Together, we are poised to deliver significant contributions to the clean energy transition,” said Hugh Kelly, Co-Founder and CEO, Simply Blue Group.
“We are honored to embark on a partnership with Simply Blue Energy, a developer possessing a pioneering spirit and extensive expertise in the field of offshore wind power. Through this collaboration, we aim to further advance offshore wind development for both companies and contribute to achieving a carbon-neutral society,” added Toru Kuwahara, Executive Vice President, and General Manager of Global EX Division of KEPCO.