MOL's Game-Changing Investment in Wind Turbine Maintenance

Mitsui OSK Lines (MOL) in Japan is expanding its commitment to the offshore wind industry through a partnership with Hokutaku, a company specializing in wind turbine maintenance. This arrangement involves MOL acquiring a significant portion of Hokutaku's outstanding shares, solidifying its emphasis on the offshore wind sector.

Hokutaku is Japan's foremost third-party maintenance company for wind turbines, catering to around 80% of the approximately 2,600 wind turbines in the country.

The collaboration between the two began in 2017, significantly expediting MOL's venture into the wind power industry and establishing Hokutaku MOL Wind Energy Investment.

According to MOL, “While Hokutaku has a sufficient track record and operation and maintenance technology performance, it is moving away from individual ownership amid the industry’s rapid growth in size and project scale.”

Having set its sights on offshore wind in 2021, the shipowner based in Tokyo has been progressively broadening its impact on marine renewables. This expansion primarily involves strategic technological investments, focusing on advancing floating wind technology.