Japan’s shipping major Mitsui O.S.K. Lines (MOL) and Toyo Construction, one of Japan’s marine contractors, agreed on Friday to establish a joint venture focusing on offshore wind power generation.
The two Japanese companies signed the related contract after study and discussion of opportunities for collaboration in the offshore wind power generation business.
Through the joint venture, the companies will create stronger synergies in a wide range of areas related to offshore wind power, including survey planning, procurement of work vessels, and offshore construction, with the aim of establishing a powerful yet agile business in this field.
As the shipping major Mol claims “the joint venture will meet the demand for work vessels in the offshore wind power generation business and make significant contributions to the value chain as an engineering and solutions company.”
MOL and Toyo Constructions joint venture will also meet demands in a wide range of businesses related to offshore wind power, which is expected to become a critical element of the world’s future renewable energy supply.