Japan’s largest utility and one of its largest companies, Tokyo Electric Power Company (TEPCO), has acquired Scottish offshore wind developer Flotation Energy
Flotation Energy is headquartered in Edinburgh, Scotland. The Flotation team is well known for pioneering floating offshore wind and energy transition projects. Its founders Allan MacAskill and Lord Nicol Stephen developed Kincardine, the world’s largest floating windfarm.
In a statement, Flotation Energy said it is growing quickly, with a focus on delivering more than 12 GW of commercial-scale fixed and floating offshore windfarms and has plans to expand into many more key markets. Flotation Energy is already a joint venture partner in the UK Round 4 Morecambe Project and White Cross 100-MW floating project in the Celtic Sea. “With TEPCO’s experience and its resources, Flotation Energy is in an even stronger position,” said the company.
Flotation Energy chief executive and cofounder Lord Nicol Stephen said, “This is an extremely exciting development for Flotation Energy and recognises the strength and success of our world class team.
“We have pioneered the growth of floating wind across the globe and have a significant pipeline of projects in the UK, Ireland, and Asia Pacific. This new partnership is a major commitment by TEPCO. It will allow us to move forward quickly with our existing projects and to kick start new opportunities right around the world.”
TEPCO Renewable Power president Masashi Nagasawa said, “We are pleased to partner with Flotation Energy, which shares our mission to deliver renewable energy and create a carbon neutral society.
“Flotation Energy’s experience and knowledge of floating offshore wind development and its network will vastly accelerate the development of our offshore wind business both domestically and internationally.”
