Macquarie, Iberdrola form joint venture to develop 3.3GW of offshore wind in Japan

first_img FacebookTwitterLinkedInEmailPrint分享Offshore Wind Journal:Macquarie’s Green Investment Group (GIG) has formed a joint venture with Iberdrola to co-develop a 3.3-GW portfolio of three bottom-fixed and three floating offshore wind projects in JapanThe offshore wind projects were initiated and have been developed to date through Macquarie’s renewable energy platform, Acacia Renewables. Iberdrola will acquire Acacia Renewables and take forward the existing offshore wind development pipeline alongside GIG as a joint venture. GIG will hold an equal share in the six projects with Iberdrola and provide development and commercial advisory services to the portfolio.Under Iberdrola’s ownership, Acacia will focus on the development of offshore wind projects, while its existing onshore wind development business will be taken forward by GIG.Acacia Renewables currently has two offshore windfarms under development, with a combined capacity of up to 1.2 GW, which could be operational by 2028. The company also has four other projects in its pipeline, with a total capacity of 2.1 GW.The operation is in line with the company’s strategy, allowing Iberdrola to position itself in the early development stage of Japan’s offshore wind market, which has strong growth potential. The deal also gives Iberdrola access to a diversified project pipeline, located in different areas of the southwest of the country, in what it said is an optimal manner for the auctions announced by the Japanese Government.The joint venture brings together GIG’s offshore wind expertise and commitment to the Japanese market with Iberdrola’s technical capabilities and operational excellence. The joint venture is GIG’s second joint venture with Iberdrola – the partners currently co-own the 714-MW East Anglia One offshore windfarm in the UK.[David Foxwell]More: Iberdrola and Green Investment Group to co-develop 3.3-GW portfolio in Japan Macquarie, Iberdrola form joint venture to develop 3.3GW of offshore wind in Japanlast_img