Teaming up with TEPCO and wind developer Floatation Energy will hold a stronger position to help decarbonize countries around the world. Yes, Japan’s utility giant TEPCO teams up with Scotland’s Floatation Energy.
Tokyo Electric Power Company Holdings (TEPCO) is the largest electricity utility in Japan and also one of the largest in the world. With headquarters in Edinburgh, Scotland, Floatation Energy is a well-known name for pioneering floating offshore wind and energy transition projects. This is the first time for TEPCO to team up with offshore wind markets in the United Kingdom and overseas with Flotation Energy as a part of the TEPCO Group.
Lord Nicol Stephen, CEO & Co-Founder of Flotation Energy, said: “This new partnership between Scotland and Japan represents a major commitment by TEPCO. It will allow us to move forward quickly with our existing projects and to kick-start new opportunities right around the world. Climate change is the biggest challenge facing our planet. A future of clean, green renewable energy has always been our goal.”
“We are very pleased and heartened to partner with Flotation Energy, which shares our mission to ‘deliver clean renewable energy and create a carbon-neutral society’ as we work together to further develop both companies,” Masashi Nagasawa, TEPCO Renewable Power President, added.
Generating capacity of TEPCO Renewable Power, a subsidiary of Tokyo Electric Power Company is 9.9 GW and Flotation Energy is one of the largest floating wind farms in the world. “We aim to contribute to a stable supply of electricity mitigating the power price surge in the medium to long term that is linked to the recent fossil fuel price situation,” Masashi Nagasawa said in a statement. Venture will peruse utility projects in 4 countries – Japan, Austria, Ireland, and Britain, further planning to add Taiwan to the list too. Together they are aiming to generate combined 12 million kilowatts of power.
Floating Energy is focusing on delivering more than 12 GW for commercial scale fixed and floating offshore wind farms with further plans of expanding into many more key markets. At present, the Scotland-based wind farm is already a joint venture partner in the Round 4 Morecambe Project in United Kingdom and White Cross 100 MW floating project in Celtic Sea.
“This is a very exciting development for Flotation Energy and recognizes the strength and success of our world-class team. We have pioneered the growth of floating wind across the globe and have a very significant pipeline of projects in the UK, Ireland, and Asia Pacific,” said Lord Nicol Stephen.
“Flotation Energy’s experience and knowledge of the world’s biggest floating offshore wind development and their global network will vastly accelerate the development of our offshore wind business both domestically and internationally. Through our collaboration, we will realize our management philosophy of ‘Harnessing the Natural Resources to Energy, and further Society’ on a global scale,” said Masashi Nagasawa. So, Japan’s Utility Giant TEPCO Teams up with Scotland’s Floatation Energy and people are hopeful towards more sustainable energy in the future.