bp will partner with offshore wind developer Marubeni to explore offshore wind and potentially other decarbonization projects, including hydrogen in Japan, bp announced on Wednesday.
As part of their agreement, bp will join Marubeni in their proposal for an offshore wind project off the coast of Japan, purchasing a 49% stake in the proposed project.
Marubeni has extensive knowledge in the wind energy sector, with a total power generating capacity of about 12 gigawatts and involvement in the development and operation of more than 2 gigawatts of onshore and offshore wind power globally.
Additionally, Marubeni is the lead partner in the development, permitting and construction of the first large-scale, commercial offshore wind project, the 140-megawatt Akita offshore wind farm, to achieve a financial close in Japan to date.
Moreover, under the partnership, bp will establish a local offshore wind development team in Tokyo.
Japan, with its aim to become carbon neutral by 2050, has set a target of deploying 10 gigawatts of offshore wind capacity by 2030 and up to 45 gigawatts by 2040.
By Zeynep Beyza Kilic