EU clears offshore wind JV between Mitsui, Osaka Gas, RWE

The European Commission has approved a deal that will see Japanese project developer Mitsui & Co (TYO:8031), local energy firm Osaka Gas Co Ltd (TYO:9532) and a unit of Germany's RWE AG (ETR:RWE) set up a joint venture to develop a 684 MW offshore wind project in Japan.

The Commission said on Tuesday that the planned transaction is not likely to affect competition because of its limited impact on the European Economic Area.

According to the information, the joint venture will develop, build, own, operate and ultimately decommission offshore wind farm assets related to the Niigata Murakami-Tainai Offshore Wind Project.

RWE first announced in December 2023 that a group consisting of its unit RWE Offshore Wind Japan Murakami-Tainai KK, Mitsui and Osaka Gas had been selected to deliver a commercial-scale offshore wind project with a planned capacity of 684 MW. The facility will be located off the western coast of Japan, near the cities of Murakami and Tainai in Niigata Prefecture.

The wind farm will consist of 38 turbines and is expected to become operational in June 2029.

The project is in line with Japan’s goal to increase offshore wind capacity and become carbon neutral by 2050.

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