Mr Takashi Tada, Head of Renewable Energy Division in Kansai Electric Power and Mr Per Lund, CEO in Odfjell Oceanwind at the signing ceremony

The leading Japanese utility company, Kansai Electric Power Company Ltd. (Kansai) is, through a private placement, becoming a shareholder in Odfjell Oceanwind. With an annual production capacity of more than 85 TWh per year and 8,500 employees in more than 10 countries, Kansai is a large global utility company with electricity production from nuclear, coal, natural gas, hydro power, wind and solar power plants. Following their entry into Odfjell Oceanwinds floating offshore wind projects GoliatVIND and UtsiraVIND in 2023, Kansai now becomes OOWs third largest shareholder after the Odfjell family and the Japanese shipping giant Mitsui O.S.K. Lines, Ltd (MOL).  

“We are very pleased to welcome Kansai as a large shareholder in OOW”, CEO of Odfjell Oceanwind Per Lund says. “After Kansai’s entry into two of our projects last year, we have learned to know Kansai as a very competent organisation with high ambitions within floating offshore wind. We share the same culture of valuing diligent engineering and prudent operations, both being fundamental success factors in floating offshore wind. 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”.  

“We are thrilled to partner with Odfjell Oceanwind AS, a company distinguished by its pioneering floating foundation technology. As a part of the shareholder, we aim to advance floating offshore wind power projects and foster the industry's growth and development together with OOW in Norway. We are firmly confident that this strategic alliance underscores a significant breakthrough toward achieving our goals and vision of the floating offshore wind industry” said Takashi Tada, Executive Vice President of Kansai. 

DNB Markets acted as sole financial adviser for Odfjell Oceanwind in the transaction with Kansai, as they did when Mitsui O.S.K. Lines was onboarded as the second largest shareholder and strategic partner in October last year. 

KeyFacts Renewable Energy Directory: Odfjell Oceanwind