Ideol and Acacia Renewables has signed a Memorandum of Understanding (MOU) to develop the first utility scale commercial floating offshore wind farm in Japan.
The two have signed a memorandum of understanding (MOU) in March for the same. Both companies are working together, in the development of the project off the coast of Japan.
The project will draw upon Ideol’s patented Damping Pool technology and Acacia’s extensive experience in project origination, development and financing with the support of Macquarie Capital’s expertise in managing offshore wind assets. Construction is currently set for 2023.
Acacia Renewables CEO David Povall said: “We are truly excited about the development of the energy sector and opportunities in delivering large scale offshore projects in Japan. Bringing into Japan the global renewables capabilities and experience will hopefully deliver a step change in the speed and cost of deployment.”
Ideol CEO Paul de la Guérivière said: “We are extremely proud to have a global powerhouse recognize the pertinence of our technology which is particularly compatible with tomorrow’s very large wind turbines and increasingly higher local content expectations.
“The signing of such agreement clearly demonstrates that after 2 full-scale demonstrators on 2 different continents and a pre-commercial array we are now ready for the next stage: commercial-scale deployment. Our international and fully integrated team looks forward to taking on this new challenge in close partnership with Acacia’s and Macquarie Capital’s experts.”