Fred. Olsen Ocean, Shimizu in Offshore Wind Pact

June 29, 2021

Image by Dag Hareide - MarineTraffic
Image by Dag Hareide - MarineTraffic

Fred. Olsen Ocean (FOO), including its subsidiaries Fred. Olsen Windcarrier (FOWIC) and Global Wind Service (GWS), on Tuesday announced a partnership with Shimizu Corporation (Shimizu) to support growth and development in the offshore wind industry in Japan and worldwide. 

"The partnership between these organizations marks an important milestone as it brings together FOO's specialist knowledge, experience and capabilities as a global leader in offshore wind turbine installations, and Shimizu's leading strengths in construction activities and in-depth knowledge of the Japanese market," FOO said.

"Together, the combined expertise, experience, assets, and related supply chains of these two organizations will be valuable for the development of offshore wind," FOO added.

Fred. Olsen Ocean highlighted Japan's ambitious targets to develop 10 GW of offshore wind power by 2030.

"As a clear indication of their commitment to help reach these goals, Shimizu will take delivery of its own jack-up installation vessel in late 2022," FOO said.

Under this partnership and exclusivity agreement, Fred. Olsen Windcarrier will be the leading partner for installation projects involving Shimizu's vessel outside Japan, while Shimizu will be the leading partner for installation projects within Japan. 

"With a deep understanding of operating jack-up installation vessels, FOWIC will support Shimizu with the planning and execution of upcoming offshore wind project installations in Japan and support with training of key personnel for safe and efficient operation. FOWIC and GWS will be the preferred suppliers for Shimizu with FOWIC supplementing Shimizu vessel capacity in Japan when needed. For markets outside Japan, FOWIC will represent and market the Shimizu vessel," FOO said.

Alexandra Koefoed, Chief Executive Officer of Fred. Olsen Windcarrier, said: "We are very pleased to be working with such a renowned organization as Shimizu, and excited to be playing such an important role in Japan's renewable energy sector. There is great potential not only in the partnership of our two businesses, but also in what we can offer to the offshore wind industry." 

Toru Yamaji, Vice President of Shimizu, said: "We could not have chosen a better partner to further our capabilities in the Japanese offshore wind market, and abroad. Together, Fred. Olsen Ocean and Shimizu will offer a breadth of specialist knowledge, assets and services for wind farm developers worldwide."



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