Tokyo Gas invests in 25-MW WindFloat Atlantic offshore Portugal

Tokyo Gas Co Ltd (TYO:9531) has invested in the 25.2-MW WindFloat Atlantic operational floating offshore wind farm off the coast of Portugal, it was announced on Tuesday.

Featuring three 8.4-MW turbines, the semi-submersible floating offshore wind farm is operated by Windplus SA, a majority owned subsidiary of Ocean Winds, which isa joint venture between EDP Renewables (ELI:EDPR) and Engie SA (EPA:ENGI). The project, which achieved full operation in 2020, uses the WindFloat floating foundation system developed by Principle Power. Tokyo Gas and Ocean Winds are already co-shareholders of Principle Power and the newly announced investment builds on that relationship.

"Moving forward, we will leverage the knowledge gained from this collaboration to work towards the large-scale commercialisation of floating offshore wind power in Japan,” said Kimoto Kentaro of Tokyo Gas.

Ocean Winds CEO Craig Windram also commented that the collaboration has the potential to advance floating offshore wind development in Japan.

Following the transaction, Tokyo Gas will own 21.2% of Windplus, Ocean Winds will hold 65.17%, while Spanish oil company Repsol will keep its current stake of 13.63%.

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