EDF Renewables, MOL Ink Offshore Wind and Green Hydrogen MoU

Outlook & Strategy

October 4, 2023, by Adnan Memija

Japan-based Mitsui O.S.K. Lines (MOL) and EDF Renewables have signed a memorandum of understanding (MoU) to cooperate on offshore wind and green hydrogen business development.

With this MoU, both partners agree to collaborate and bring together their respective and complementary knowledge and experience in offshore wind energy as well as in green hydrogen solutions.

“As part of a global leader group in low carbon energy with a significant growth ambition in renewables and a more than 10-year experience in offshore wind, we’re very keen to the future innovation on maritime transport both in offshore wind business and green hydrogen development worldwide and committed to contribute to Japan’s energy transition,” said Frèdèric Belloy, Executive Vice President of International Operations for EDF Renewables.

MOL offers a range of supply chain services in the offshore wind power business including construction and logistics, maritime consultation, and operations and maintenance (O&M). The company also partakes in the development of offshore wind farms such as in the Formosa I offshore wind project.

Last year, MOL, together with Toho Gas, and Hokuriku Electric Power agreed to acquire a 25 per cent stake in Formosa I International Investment from Macquarie’s Green Investment Group.

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“With EDF Renewables, who has vast experience in developing and operating offshore wind farms and green hydrogen projects internationally, we believe this collaboration would accelerate the development of offshore wind farm and green hydrogen projects all over the world,” said Masayuki Sugiyama, Executive Officer, Wind Power Project & Carbon Power Solution at MOL.

At the end of 2022, EDF Renewables operates a net installed wind and solar capacity of 11.4 GW (18.5 GW gross) worldwide.

The company is developing several offshore wind farms across Europe, North America, Asia, Australia, and others, including floating wind projects such as the Newcastle Offshore Wind (NOW) in New South Wales.