EU Greenlights RWE, Mitsui, and Osaka Gas Offshore Wind Joint Venture

Fixed-Bottom

March 13, 2024, by Adnan Memija

The European Commission has cleared, under the EU Merger Regulation, the creation of a joint venture between Mitsui & Co., Osaka Gas, and a subsidiary of RWE AG, all three established in Japan, to develop a 684 MW offshore wind project in Japan.

The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on the European Economic Area.

The project company will be incorporated under Japanese law and will develop, build, own, operate, and ultimately decommission wind assets related to the Niigata Murakami-Tainai offshore wind project.

RWE Offshore Wind Japan Murakami-Tainai K.K., together with Mitsui & Co., and Osaka Gas, was selected in December 2023 to deliver a 684 MW commercial-scale offshore wind project in Japan.

The wind farm is planned to be located off the western coast of Japan, near the cities of Murakami and Tainai in Niigata Perfecture.

According to RWE, the project will feature 38 wind turbines, and the full commissioning is planned for June 2029.

The Japanese government aims to deploy 10 GW of offshore wind capacity by 2030 and 30-45 GW by 2040, including floating wind, as part of its target to reach net-zero emissions by 2050.