Energy equipment manufacturer GE Vernova and infrastructure investor Stonepeak plan to participate in a foreign consortium planning to bid for the project to build the Sea of Japan-side 2GW HVDC submarine interconnector between Hokkaido and Honshu, The Nikkei reported on February 21, 2025.
According to the report, the share that either of the companies would own in the bidding entity has not been finalized yet. The report suggests the companies plan to participate in the consortium currently consisting of Japan Interconnector, UK’s Frontier Power, and Frontier Power Asia, a 50:50 joint venture between the two.
Frontier Power helped develop a submarine UK-Germany interconnector, which is currently under construction. Japan Interconnector was founded in 2022 by Oliver Senter, with the aim of developing submarine Japan-South Korea and Japan-Taiwan lines.
In January 2024, Senter joined TerraWind Renewables, a joint venture between Shizen Energy and Stonepeak, as its CEO. “In addition to Terra, I will continue to pursue my passion for transmission projects under Japan Interconnector with our partner Frontier Power,” said Senter on LinkedIn when announcing his new role.
One other consortium plans to join the tender. It consists of major Japanese transmission and distribution network operators including Hokkaido Electric Power Network, Tohoku Electric Power Network, TEPCO Power Grid, and J-POWER Transmission Network.
OCCTO plans to receive full proposals from eligible bidders by year-end and award the project around the end of FY2025. It targets early 2030s completion of the project at an estimated cost of 1.5 to 1.8 trillion yen. Once operational, the interconnector will boost available transmission capacity between the renewables-rich Hokkaido area to the high-power demand Tokyo area.
