MOL becomes new strategic shareholder in Odfjell Oceanwind
Following a recent private placement, Mitsui O.S.K. Lines, Ltd. (MOL) has become a shareholder in Odfjell Oceanwind, thus becoming an important strategic partner to the company. MOL is one of the largest shipping companies in the world with headquarter in Tokyo, Japan.
The transaction generates significant capital which will be used to further strengthening Odfjell Oceanwind's position as a global leader and frontrunner in floating offshore wind technologies. Odfjell Technology Ltd. combined with the Odfjell family's direct investment will remain the largest shareholder in the company.
The strategic partnership enables Odfjell Oceanwind to accelerate its business plan of supporting and partnering with offshore wind park developers in realising floating offshore wind projects based on the proprietary Deepsea technologies. This follows the recently announced partnerships with Source Galileo – a European platform for investments in renewable infrastructure, Kansai Electric Power - a large Japanese utility company, and Ingka – the investment arm of IKEA, for the ongoing Utsira Nord seabed lease competition.
The Deepsea floating offshore wind technologies offer unique benefits in terms of standardised and DNV approved designs for large 15MW+ conventional offshore wind turbines suitable for cost efficient deployment to multiple locations including the harshest areas currently allocated for floating offshore wind. The Deepsea Star semisubmersible foundation design in steel has already been selected for the GoliatVIND and UtsiraVIND projects and is currently being considered for several INTOG and Scotwind projects, and for a total of 50 GW of projects globally with COD before 2035.
MOL, is a leading shipping company, operating on a global scale with about 800 vessels in service. MOL develops various social infrastructure businesses centred on ocean shipping, as well as technologies and services to meet ever-changing social needs including environmental protection.
Odfjell Oceanwind is a Norwegian floating offshore wind specialist that combines Odfjell's 50 years of maritime tradition and experience in designing, building and operating floating units in harsh environments with Oceanwind's 20 years of experience in developing floating offshore wind solutions. Odfjell Oceanwind was developed to accelerate floating offshore wind through electrification of Oil & Gas installations on the Norwegian continental shelf and has offices in Bergen, Stavanger and Oslo.
