Japan’s Tepco buys Scottish offshore wind player Flotation

The deal was signed yesterday (1 November) and is due to close soon, a Flotation spokeswoman confirmed.

Flotation’s founders helped to develop the Kincardine project – the world’s largest operational floating offshore wind farm – and the company is helping to develop more than 12GW of offshore wind farms across Australia, Ireland, Japan, Taiwan. and the UK.

Meanwhile, Tepco is working with Ørsted to develop several projects off its home country, owns stakes in projects off Taiwan through a joint venture with compatriot Chubu Electric Power, and also bought into floating pioneer Stiesdal’s pilot project off Norway.

Flotation Energy CEO Nicol Stephen added that the partnership with TEPCO “will allow us to move forward quickly with our existing projects and to kick start new opportunities right around the world”. 

President of Tepco’s renewable energy division Masashi Nagasawa said: “[Flotation’s] experience and knowledge of the world’s best floating offshore wind power development, as well as their global network, will undoubtedly accelerate the development of our offshore wind power business both in Japan and overseas.”