Ideol and Acacia Renewables, a wholly owned Japanese renewable energy development platform of Macquarie Capital, have signed a Memorandum of Understanding aiming at developing Japan’s first utility scale commercial floating offshore wind farm.The companies are working together for the development of the project off the coast of Japan. The project will draw upon Ideol’s Damping Pool technology and Acacia’s experience in project coordination, development and financing with the support of Macquarie Capital’s expertise in managing offshore wind assets. Construction is currently set for 2023. Further details about the project were not disclosed.