Global renewables player Mainstream exits Japanese floating wind power
Ireland-based Aker Horizons-owned developer says it is 'prioritising more advanced offshore projects'
Mainstream Renewable Power has dropped plans to build floating wind power off Japan, saying it will prioritise more advanced projects elsewhere.
Ireland-based Mainstream – owned by Norway’s Aker Horizons – last year concluded a deal to take a 50% stake in an 800MW project under early-stage development by US-based Progression Energy.
“The Japanese market, where the Company was exploring early-stage opportunities, is an attractive offshore wind market but currently we are prioritising our more advanced offshore projects and opportunities across Asia and in European waters.”
Mainstream, which is led by CEO Mary Quaney, said it will focus on advancing a 21.7GW global pipeline spanning onshore and offshore wind and solar, including big projects off the British and Irish isles.
Floating wind in deep waters is tipped to play a key role in advancing Japan’s ambitions to have 45GW of offshore capacity operating by 2045, one of the most ambitious globally. However, apart form the small Goto Islands demonstrator project, Japan’s early tenders have focused on large-scale fixed-bottom capacity.
Mainstream did not say in its statement whether it had transferred its 50% stake in the Progression project back to its former partner or to a third party.
Progression Energy has so far not responded to a query on the status of its Japanese project.
(Copyright)