DEME Offshore and Penta-Ocean Construction, a Japanese marine contractor, have announced that they have officially agreed to establish a Joint Venture to focus on the construction of offshore wind farms in Japan.
The partners are currently in the process of establishing the Joint Venture company, whereby 51% of the shares will be owned by Penta-Ocean and 49% by DEME Offshore. New regulations concerning wind power energy generation at sea, as well as in port and harbour areas, have been introduced in the country and the first wind farm auction round is expected to take place this year. Japan has set a target to develop 10GW of offshore wind power by 2030.