Tokyo Gas acquires 21.2% stake in Portugal’s WindFloat Atlantic offshore wind farm 

Tokyo Gas’s agreement marks its first direct investment in an overseas floating offshore wind farm. 

 WindFloat Atlantic operates small, 25-megawatt (MW) floating wind farms off the Atlantic coast and is primarily owned by Ocean Winds, a joint venture between Portugal’s leading utility EDP and French company Engie. 

The project, operational since 2020, is the world’s first semi-submersible floating offshore wind farm. It utilizes a floating foundation system developed by Principle Power, a US technology startup in which Tokyo Gas acquired a stake in 2020.  

According to Tokyo Gas, this system is exceptionally stable and has demonstrated the ability to operate under severe weather conditions. 

Read more: OX2 sells 99-MW offshore wind project in Romania to Nala Renewables 

Michiko Hirose, senior general manager at Tokyo Gas, told reporters, “We aim to leverage the knowledge gained from the collaboration to work towards the commercialization of floating offshore wind farms in Japan”, Reuters reported. 

Tokyo Gas will acquire the WindFloat Atlantic stake from Ocean Winds and Principle Power as part of the deal. The transaction is expected to be finalized by the end of the year, though the terms have not been disclosed.