Danish investment firm Copenhagen Infrastructure Partners (CIP) has entered into a partnership to develop offshore wind projects in Japan.
CIP has joined hands with the real estate developer Tokyu Land Corporation (TLC). It created its partnership on behalf of its fund Copenhagen Infrastructure IV K/S (CI IV).
The companies have formed a joint venture called Aomori South Offshore Wind GK to co-develop the Aomori South offshore wind project. It has been reported that the duo is "developing the site to participate in an upcoming offshore wind auction in Japan."
The project will have TLC’s knowledge of renewable energy in Japan with CIP’s capabilities in offshore wind development and large-scale renewable energy projects, according to the statement.
To be noted, Japan aims to increase the country’s offshore wind power installed capacity to 10GW by 2030 and 30GW-45GW by 2040 to achieve net-zero emissions by 2050.
According to CIP, it aims to have €100bn under management in green energy investments by the end of this decade, a report mentioned.
Meanwhile, TLC has a 1.3GW renewable portfolio including 82 projects. Out of this, at least 19 are based in Japan’s Aomori Prefecture.