Wedoany.com Report-Nov. 9, Japan’s Kansai Electric Power (KEPCO) has signed a share subscription agreement to acquire a majority equity stake in Simply Blue Energy OSW (SBE), an offshore wind development company based in the Republic of Ireland. The acquisition will be carried out through KEPCO’s subsidiary, KPIC Netherlands, marking the company’s first investment in European offshore wind.

KEPCO aims to develop 5GW of new renewable energy capacity in Japan by 2040.

SBE, part of the Simply Blue Group, manages several offshore wind projects primarily across Europe. Simply Blue Group co-founder and CEO Hugh Kelly said: “This investment represents a pivotal moment for us at Simply Blue Energy. The support from KEPCO provides the strength and resources needed to scale our operations and advance our offshore wind initiatives. Together, we are poised to deliver significant contributions to clean energy transition.”

KEPCO has been steadily expanding its offshore wind capabilities through both domestic and international projects, including floating offshore wind demonstration initiatives. The new investment is expected to accelerate the growth of SBE’s offshore wind portfolio in Europe and beyond, while enabling KEPCO to deepen its expertise and experience in the sector.

Toru Kuwaharan, executive vice-president and general manager of KEPCO’s Global EX Division, commented: “We are honoured to embark on a partnership with Simply Blue Energy, a developer possessing a pioneering spirit and extensive expertise in the field of offshore wind power. Through this collaboration, we aim to further advance offshore wind development for both companies and contribute to achieving a carbon-neutral society.”

The acquisition aligns with KEPCO Group’s zero-carbon vision for 2050. The company plans to develop 5GW of new renewable energy capacity in Japan by 2040, raising its total renewable capacity to 9GW. KEPCO reaffirmed its commitment to promoting renewable energy initiatives and supporting the transition to a carbon-neutral society.

This investment follows KEPCO’s December 2024 agreement with Iberdrola to acquire a stake in the Windanker offshore wind farm project in Germany, reflecting the company’s broader strategy to expand its international renewable energy portfolio.

By joining forces with SBE, KEPCO aims to leverage cross-border expertise and technology in offshore wind development, enhance operational efficiency, and contribute to global clean energy goals. The partnership also strengthens KEPCO’s ability to participate in large-scale offshore wind projects, reinforcing both companies’ capacity to deliver sustainable, low-carbon energy solutions.

Overall, the collaboration represents a significant step for KEPCO’s international renewable energy expansion, supporting both its corporate carbon-neutral targets and Europe’s ongoing offshore wind development efforts. The partnership emphasizes innovation, technical excellence, and long-term commitment to clean energy growth.