MOL, Toyo Construction form Japanese offshore wind joint venture

Japanese-based Mitsui O.S.K Lines (MOL) and its compatriot Toyo Construction have established a joint venture focusing on offshore wind power generation, offshoreWind reports.

Through the joint venture, the companies said that they will create stronger synergies in a wide range of areas related to offshore wind, including survey planning, procurement of work vessels, and offshore construction.

“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 the demand for work vessels in the offshore wind power generation business, and make significant contributions to the value chain as an engineering and solutions company,” according to the press release from MOL.

The two companies reached the decision to form a joint venture after study and discussion of opportunities for collaboration in the offshore wind industry.