Hokutaku Co., Ltd. (President: Yukari Yoshida; Headquarters: Asahikawa-shi, Hokkaido) and Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto; Headquarters: Minato-ku, Tokyo) announced an agreement to form a capital alliance on January 9, 2024.
Hokutaku and MOL have been in discussions since 2017 and have provided comprehensive advice to MOL on its new entry into the wind power industry, and have built a deep relationship of trust as the joint project has progressed.
While Hokutaku has a sufficient track record and operation and maintenance (O&M) technology performance, it is moving away from individual ownership amid the industry's rapid growth in size and project scale. The MOL Group has been pursuing offshore wind power generation as part of its “BLUE ACTION 2035” management plan to achieve further growth in its non-shipping business, which it has long advocated, and has now entered the capital alliance.
Hokutaku and MOL have been pursuing the following joint projects in the wind power generation value chain, and will take this cooperative relationship to the next stage.
- Hokutaku and MOL established an investment limited partnership for offshore wind power business
(Reference: https://www.mol.co.jp/en/pr/2022/img/22027.pdf)
- As the first project, the Hokutaku MOL Wind Energy Investment Limited Partnership executed an investment in Hokutaku Corporation, a special-purpose company that holds a 10% stake in Hibiki Wind Energy Co., Ltd.
(Reference: https://www.mol.co.jp/en/pr/2023/23025.html) - Implemented an offshore wind power human resource development program by installing a training facility specialized in the practical operation and maintenance of offshore wind turbines
(Reference: https://www.mol.co.jp/en/pr/2023/23013.html) - Development of onshore wind power projects in Shimane Prefecture
Hokutaku aims to contribute to the expansion of the offshore wind industry, by creating new value, which combines Hokutaku’s extensive experience, know-how, and network in wind power generation maintenance with the MOL Group’s operational experience in social infrastructure business, including ocean transport, to become the partner of choice for industry partners throughout the offshore wind value chain.
About Hokutaku
Hokutaku was established in 1982, and its vice president, Satoru Yoshida, focused on wind turbine operation and maintenance at the dawn of the industry and started the wind turbine maintenance business in 1999. To date, the company has offered a wide range of services, leveraging its many years of experience, for all manufacturers in both onshore and offshore wind power installations. Hokutaku is the one and only third-party wind power maintenance company with a strong network of major domestic and international suppliers and outstanding know-how and experience. For details, please visit www.hokutaku-co.jp .
About MOL
MOL, established in 1884 and headquartered in Tokyo, is one of the world's leading ocean shipping companies, operating about 800 vessels worldwide. It is developing various social infrastructure businesses, technologies, and services centered on marine transport to meet the ever-changing needs of society, such as environmental protection. MOL’s fleet includes dry bulkers, LNG carriers, car carriers, and tankers. In addition to the traditional shipping business, it is also developing social infrastructure businesses such as terminals, logistics, and offshore wind power, as well as wellbeing life businesses such as real property, cruises, and ferries. For details, please visit
https://www.mol.co.jp/en/.
Inquiries regarding this matter
Hokutaku
General Affairs Department
E-Mail: hs000@hokutaku-co.jp /TEL: 0166-60-8225 / FAX: 0166-60-8226