Marubeni Corporation has announced that it will commence the construction, operation, and maintenance of offshore wind farms at Akita Port and Noshiro Port in Akita Prefecture.
The project will be implemented through a special purpose company called Akita Offshore Wind Corporation (AOW) and is the first large-scale offshore wind power project in Japan established on a commercial basis.
The 100 billion yen ($921m) offshore wind farms will generate approximately 140 MW of electricity, to be sold to Tohoku Electric Power Company under a 20-year power purchase agreement based on a feed-in tariff program.
The construction of the onshore substations and transmission lines is expected to start in February 2020 and commercial operations are expected to start in 2022.
Loan agreements to finance the project were secured with domestic and foreign financial institutions. MUFG Bank Ltd, Mizuho Bank Ltd and Sumitomo Mitsui Banking Corp jointly acted as the mandated lead arrangers, according to Marubeni.
During operation, Noshiro Port will be the base port for operations and maintenance.
Marubeni’s 12 partners include Cosmo Eco Power Co, Obayashi Corp, Chubu Electric Power Co, Tohoku Sustainable & Renewable Energy Co, and Kansai Electric Power Co.
Image credit: mlit.go.jp