Japan’s Kansai Electric Power (KEPCO) has signed a Share Subscription Agreement with Ireland-headquartered Simply Blue Group’s offshore wind development arm, Simply Blue Energy OSW (SBE OSW).
This marks KEPCO’s first investment involving management participation in an offshore wind developer.
SBE OSW is actively engaged in multiple offshore wind projects across Europe and elsewhere and possesses knowledge in offshore wind development from the early stages of project formation.
The investment will support SBE OSW in accelerating the expansion of its offshore wind portfolio in Europe and beyond, while also enabling KEPCO further to accumulate knowledge and experience in offshore wind development.
“This investment represents a pivotal moment for us at Simply Blue Energy OSW Ltd. The support from KEPCO provides the strength and resources needed to scale our operations and advance our offshore wind initiatives. Together, we are poised to deliver significant contributions to the clean energy transition,” said Hugh Kelly , co-founder and CEO of Simply Blue Group.
Simply Blue Group is developing several offshore wind projects around Europe, including the 1.3 GW Emerald and Western Star in Ireland, together with its partner EDF Renewables.
Under the Kansai Electric Power Group Zero Carbon Vision 2050, KEPCO aims to develop 5 GW of new renewable energy capacity in Japan by 2040, for a total capacity of 9 GW.
In April, the company closed a strategic agreement with Iberdrola to co-invest in the 315 MW Windanker offshore wind farm in the German Baltic Sea.