Tokyo Electric Power Company Holdings Inc. (TEPCO), the largest power company in Japan, and Ørsted A/S, an offshore wind developer, have agreed to establish a joint venture company, Choshi Offshore Wind Farm K.K., with the intention of working toward a joint bid in the Choshi-city offshore wind promotion area.
In January 2019, TEPCO and Ørsted signed a memorandum of understanding to work jointly on offshore wind projects and have since then been working together to establish a framework and organizational structure for the joint development of the Choshi Offshore Wind Project.
“TEPCO and Ørsted have been making excellent progress in developing our partnership, and we are ready to see successful development of the Choshi Offshore Wind Project,” says Tomoaki Kobayakawa, president and representative executive officer at TEPCO.
“Our two companies have agreed to establish a unique framework that enables us to effectively integrate and leverage strengths and expertise from both sides. We are confident this is key to succeed,” he adds.
TEPCO and Ørsted, having formalized their collaboration to develop the Choshi Offshore Wind Project, will submit a joint bid in the Round 1 auction once the Japanese government officially designates the Choshi-city offshore wind promotion area.
Photo: Site map of the in-development Choshi Offshore Wind Project