June 30, 2021
Fred. Olsen Ocean Ltd. (“FOO”), an offshore windfarm construction company in Norway, and Shimizu Corporation (President: Kazuyuki Inoue) have concluded an MOU concerning collaboration in offshore windfarm construction. Shimizu is aiming to expand EPC (engineering, procurement and construction) orders for offshore windfarms being planned in Japan in collaboration with FOO, which has been involved in many offshore wind power construction projects in Europe, US and Asia.
In Japan, the trend toward introduction of offshore wind power generation is accelerating based on the Act on Promoting the Utilization of Sea Areas for the Development of Marine Renewable Energy Power Generation Facilities enacted in April 2019. This includes project site selection by the government and its auction process. The Japanese government’s Vision for Offshore Windpower Industry (1st) established the goal of 10 GW in offshore windfarm power generation capacity by 2030, and 30-45 GW by 2040. Rapid expansion of the offshore windfarm construction market is projected.
In light of this, Shimizu invested 50 billion yen in building a SEP vessel (SEP: Self-Elevating Platform) equipped with transport and crane capacity that is among the largest in the world. We aim to achieve top market share in the offshore windfarm construction market in Japan. Collaboration with an international company having extensive construction experience in Europe, where introduction of offshore wind power is growing, is also essential for expanding offshore windfarm EPC projects. Shimizu therefore decided to conclude an alliance with FOO, which has a leading track record in the installation of offshore wind turbines in Europe and possesses high-level expertise in the operation and management of SEP vessels.
FOO’s subsidiary, Fred. Olsen Windcarrier (“FOWIC”), is a leading European offshore wind installation company that provides SEP vessel charter services and services for the transportation and installation of offshore wind turbines. FOWIC has installed more than 700 offshore wind turbines, equivalent to a generating capacity of approximately 4.5 GW.
In this alliance, Shimizu will receive technical support for training in operating SEP vessels and in installation of offshore wind turbines from FOO, including its subsidiaries FOWIC and Global Wind Service (“GWS”). In return, FOO will expand its business in Japan by securing installation business from Shimizu. Both companies will engage in mutual cooperation in the offshore wind construction market in overseas countries.
Shimizu intends to contribute to the achievement of a decarbonized society by expanding EPC projects for offshore windfarms. It plans to achieve this through the use high-performance SEP vessels capable of handling increasingly large offshore wind turbines and strong collaboration with FOO.
Fred. Olsen Ocean Ltd. (FOO)
|Head office||Oslo, Norway|
|Chairman of the Board||Anette S. Olsen|
|Origination||Fred. Olsen-related companies date back to 1848|
|Outline of business||FOO’s main business is to provide onshore and offshore wind construction services.|
|Notes||Fred. Olsen Windcarrier (FOWIC) and Global Wind Service (GWS) are owned by FOO. FOWIC provides SEP charter services and transportation and installation services for WTG. GWS provides onshore and offshore WTG installation and servicing.
FOWIC has three SEPs and initiated a new crane upgrade program for the SEPs. They are planning to build a fourth SEP.
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