The joint venture is jointly owned by MHI (50%) and CIP (50%), and a team with experts from both owners will be established, the companies said.
MHI added that the move comes as part of its growth strategy to focus on the entire value chain of the offshore wind power business.
”We are excited to announce the partnership with MHI for the joint development in the Hokkaido area. This is an ideal partnership combining the expertise of the partners,” said Michael Hannibal, Partner at CIP.
“MHI brings innovative technical solutions and extensive local knowledge where CIP brings global state of the art offshore wind development and investment experience to the partnership.”