RICHARD HEAP

Kansai Electric buys into Odfjell Oceanwind

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March 21, 2024

Japanese utility Kansai Electric has bought an undisclosed stake in floating wind developer Odfjell Oceanwind to deepen its work with the company.

Kansai Electric backed Oceanwind floating wind projects Goliat Vind and Utsira Vind in 2023, and has now become the third largest shareholder in Oceanwind after the Odfjell family and Japanese shipping giant Mitsui OSK Lines.

Per Lund, chief executive of Odfjell Oceanwind, said: “Kansai is another high quality, global and industrial company which complements our existing shareholders. The raised capital will enable us to accelerate our journey towards becoming a global technology leader in floating offshore wind even further.”

Takashia Tada, executive vice president of Kansai, said: “We are firmly confident that this strategic alliance underscores a significant breakthrough toward achieving our goals and vision of the floating offshore wind industry.”

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