Germany's RWE eyes expansion to Japan's offshore wind market

It wants to expand its total capacity of 2.5GW.

Reuters reports that German utility RWE is looking to invest in Japan’s offshore wind power projects and is in talks with potential partners as it aims to expand its global renewable portfolio, citing an executive.

“We see very good fundamentals if we look at the Japanese market with regards to growth in renewable in general, but offshore wind in particular,” Sven Utermohlen, Wind Offshore Global COO at RWE Renewables, told Reuters in an interview on Tuesday.

RWE has transformed itself by taking over the renewables activities of subsidiary Innogy and peer E.ON, which was part of a major reshuffle of Germany’s power sector.

RWE is now the world’s No.2 operator of offshore wind farms behind Denmark’s Orsted, with a total installed offshore wind capacity of 2.5GW. It established a subsidiary in Tokyo this year after studying the market for about a year.

“We want to be a leading offshore player in Japan, definitely a foreign offshore player in Japan,” Utermohlen said.

Read the full report here.