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BP Enters a Partnership That Focuses on Offshore Wind in Japan

BP has agreed to establish a strategic partnership with Japanese conglomerate Marubeni that will focus on offshore wind development and potentially look at “other decarbonisation projects, including hydrogen.”

The agreement will see BP purchase a 49% stake in an offshore wind project proposed for waters off Japan’s coast. The energy major’s announcement, made Wednesday, did not contain details of the project’s size or when it may be built.

The agreement, it said, was “subject to merger control approvals.” In relation to the plans, BP is to set up a Tokyo-based “local offshore wind development team.”

Read the source article at cnbc.com

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