Japanese 100mw offshore wind project seeks financing

07 November 2018 - 12:00 am UTC

Japan’s Green Power Investment is seeking project financing to develop a 100MW offshore wind farm in Hokkaido, a company official told Inframation.

Worth around JPY 70bn (USD 618m), the offshore wind project involves building a wind farm at Ishikari Bay New Port on the country’s northernmost island from 2020.   

Green Power, majority owned by Pattern Energy Group Inc’s development unit, is planning to install bottom-mounted generators in the port’s breakwater.   

“We are in the design process, so there may be some changes to the plan,” said the official. The company is seeking securing non-recourse project finance from banks, but specific details will be worked out in the future, the official continued.      

Commercial operations will kick off from 2022. The project will sell electricity to Hokkaido Electric Power under the domestic feed-in tariff system.  

In August 2015, Ishikari Bay New Port Authority selected Green Power Investment as an operator to construct the near-harbor wind farm.

Experts see major growth potential for the island nation’s offshore wind capacity. The Japan Wind Power Association (JWPA) has estimated that the country could host up to 91GW via bottom-mounted facilities alone.

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