Supporting Offshore Wind Power Generation Projects

  • Area: Europe
  • Infrastructures
  • Environment
  • [Project Finance]

JBIC concluded a project finance loan agreement with Britain-based WMR JV Investco Limited (WMR), in which Marubeni Corporation has an equity stake, for an offshore wind power generation project in the UK. In this project, Marubeni and Britain-based Green Investment Bank Plc jointly established WMR, through which they acquired shares of a UK offshore wind power generation company owned by a subsidiary of Denmark-based DONG Energy A/S (DONG), the world's largest offshore wind power generator. Marubeni will work with DONG to build and operate an offshore wind power plant about eight kilometers off the coast of East Riding in Yorkshire, and to sell the electric power generated by the plant. Amid the advancement of large-scale offshore power generation projects in Europe and intensifying competition among foreign companies from various countries for concessions in projects, JBIC supports long-term overseas renewable energy projects by Japanese companies through provision of long-term funds denominated in British pounds, reducing the exchange rate risk in foreign-currency loans faced by project participants.
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