Tokyo Gas to Join Joint Venture for Offshore Wind Projects in Japan
Northland Power Inc. (Northland) (TSX: NPI) and Shizen Energy Inc. (Shizen Energy) announce that Tokyo Gas Co., Ltd. (Tokyo Gas) has joined the joint venture established by Shizen Energy and Northland in 2019 for the development of offshore wind projects in Chiba Prefecture, Japan.
In conjunction with this alliance, each of the partners will be a shareholder of Chiba Offshore Wind Inc. (COW), the development vehicle for the projects.
Management and employees from each of the three companies are working together on the projects, with a combined team of more than 30 people. COW is developing the projects off the Pacific Ocean coastline of Chiba Prefecture, with the target to achieve promising area designation.
Tokyo Gas is Japan’s largest provider of city gas with a proven track record of supplying energy to many customers, mainly in the Tokyo metropolitan area. The company will continue expanding its renewable power business, both domestically and overseas, to achieve its renewable power transaction volume target of 5GW by 2030. The aim of the company is to achieve its “Net Zero CO2” objective as set out in the Group Management Vision, “Compass 2030”. Northland Power is a global developer, owner and operator of sustainable infrastructure assets, having extensive expertise and experience in offshore wind development. Shizen Energy has contributed to the development of approximately 1 GW worth of renewable energy domestically and overseas.
(From Left: Baba Satoshi, Senior General Manager, Tokyo Gas Co., Ltd.;
Masaya Hasegawa, Representative Director of Shizen Energy;
and David Povall, Executive Vice President, Development of Northland)
【Overview of Chiba Offshore Wind Inc.】
|Company Name||Chiba Offshore Wind Inc.|
|Establishment||11 September 2019|
|Shareholders||Northland Power Inc., Shizen Energy Inc., Tokyo Gas Co., Ltd.|
|Business Description||Development of Offshore Wind Power Plants in Chiba Prefecture, Japan.|