A joint special purpose company established by Hokkaido Electric Power and Tohoku Electric Power took an undisclosed stake in Ishikari Bay New Port Offshore Wind Farm, which is Japan’s largest operational offshore project, the companies announced on October 1, 2025.
According to the statement, the transaction was completed on September 30, 2025. The two utilities joined the project’s lead developer Green Power Investment, which was jointly acquired by JERA and NTT Anode Energy in August 2023, and JERA’s offshore wind unit JERA Nex, which is being integrated into JERA Nex bp, the company’s UK-based joint venture with bp.
Ishikari Bay New Port Offshore Wind Farm, owned by the special purpose company Green Power Ishikari LLC, began commercial operation on January 1, 2024. Its output is being sold to Hokkaido Electric Power Network under a 20-year, 36 yen per kWh feed-in-tariff (FIT) contract secured before fixed-bottom projects were transitioned to auction-based pricing.
The power plant comprises 14 8MW Siemens Gamesa turbines with a total capacity of 112MW. Their combined output is capped at 100MW due to grid connection limitations. The project’s substation is equipped with 180MWh of battery storage.
Green Power Investment launched the environmental impact assessment process for Ishikari Bay New Port Offshore Wind Farm in 2012. Construction began in October 2022, with Kajima Corporation in charge of onshore work and a joint venture between Shimizu Corporation and Nippon Steel Engineering handling the offshore portion.
Both Hokkaido EPCO and Tohoku EPCO are also advancing other offshore projects. The former launched the environmental impact assessment for an up to 1.14GW power plant off the coast of Hiyama, a Promotion Zone expected to be offered in Japan’s next auction round. The latter was awarded a 315MW project off the coast of Akita Prefecture in the second round as part of a JERA-led consortium.
