Cosmo Eco Power is a wholly owned subsidiary of Cosmo Energy Holdings (Cosmo Energy), a company that develops and operates wind power plants in Japan
Hitachi Zosen Corporation (Hitachi Zosen) is a Japanese infrastructure and technology business. Over time, it has also become a provider of energy-from-waste plants, water treatment systems and other energy related solutions
Iberdrola is a Spanish company engaged in the generation, transmission, and distribution of electricity both nationally and internationally, with an installed capacity of 55GW. It uses renewable sources such as onshore and offshore wind, hydro, solar photovoltaic, combined cycle gas, nuclear, and biomass, as well as through the installation of batteries
Acacia Renewables is a wholly-owned subsidiary of Iberdrola Group
Process
DC Advisory (DC) was engaged by Iberdrola due to its deep understanding of the Japanese market and access to key market operators. The role included:
Advice on Japanese off-shore wind programs including timing and dynamics
Identification of potential JV partners for Iberdrola and key requirements / expectations by the different potential partners
Contact with potential JV partners and arrange meetings to introduce Iberdrola
Outcome
Cosmo Eco Power and Hitachi Zosen have signed a joint venture agreement with Acacia Renewables to co-develop the 600-MW Aomori-Seihoku-Oki offshore wind project in Japan
The agreement will bring the partners together under the umbrella of Aomori-Seihoku-Oki Offshore Wind Godo Kaisha, an LLC-type of company shepherding the project. Cosmo Eco Power will become the vehicle’s largest contributor
Thanks to the alliance with Iberdrola, Cosmo Eco Power expects to increase its credibility in the offshore wind power business
