AsiaElec: Mitsui, Toyo Construction to form joint venture on offshore wind

Japanese shipping giant Mitsui OSK Lines (MOL) and Toyo Construction will form a joint venture (JV) on offshore wind. The companies had first announced they would consider a joint venture in February 2022. 

The 50:50 JV will focus on engineering and construction of offshore wind power generation projects, procurement and operation of various work vessels related to offshore wind power generation, and various other businesses related to offshore wind power generation.

This will be achieved by combining MOL's decades of experience in ship construction, ownership and operation with Toyo Construction's extensive knowledge and human resources in offshore construction, as well as its technological development capabilities in offshore wind power generation.

The JV will meet demands in a wide range of businesses related to offshore wind power, which is expected to become a critical element of the world's future renewable energy supply, said MOL in a press release.

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