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MOL partners with Toyo Construction to develop renewables in Japan

Mitsui O S K Lines (MOL) has entered into a partnership with Toyo Construction to establish a joint venture for renewables in Japan.

The duo has signed a contract to establish a JV focusing on offshore wind.

Under the agreement, the companies plan to have stronger synergies in a wide range of areas related to the sector.

According to the companies, the partnership includes “survey planning, procurement of work vessels, and offshore construction” with an aim of establishing a powerful yet agile business in this field.

The companies informed that the joint venture is expected to be significant which will incorporate “MOL's decades of experience in ship construction, ownership, and operation with Toyo Construction's extensive knowledge and human resources in offshore construction, as well as its technological development capabilities in offshore wind power generation.”

A local report mentioned that the JV will meet the demand for work vessels in offshore wind and will contribute to the value chain.

“It will meet demands in a wide range of businesses related to offshore wind power, which is expected to become a critical element of the world's future renewable energy supply,” the companies said.


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