Bech-Bruun has since February 2017 advised Marubeni Corporation (”Marubeni”) and its partners consisting of several other Japanese energy companies on legal and commercial matters in relation to the Akita Noshiro project.
The Akita Noshiro project is valued at EUR 831 million and is one of the first commercial scale offshore wind projects in Japan and will generate approximately 140 MW of electricity. The construction of the onshore substations and transmission lines is expected to start this month and commercial operations will kick off in 2022.
Bech-Bruun has advised on the structure of the project and assisted in the procurement process including drafting and negotiation of major supply contracts.
The offshore wind market in Japan is on the rise and will continue to grow over the next several years. There are currently plans to build offshore wind projects with more than 10GW capacity (as compared to the European market of 18GW, which is considered the world leading market for offshore wind). In other words, offshore wind in Japan has extensive potential.
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