Japan has selected a consortium of Iberdrola Renewables Japan, Japan Renewable Energy and Tohoku Electric Power for the development of a 375MW offshore wind farm.

The consortium, named GK Happo Nioshiro Offshore Wind, was chosen as the business operator by Japan’s Minister of Economy, Trade and Industry and the Minister of Land, Infrastructure, Transport and Tourism.

The project will feature a fixed-bottom offshore wind farm with 25 monopile-foundation turbines, each with 15MW of capacity.

These turbines will be installed offshore Happo Town and Noshiro City in Akita Prefecture. Danish turbine manufacturer Vestas will supply the units.

In a joint statement, the companies said: “The operating company will take into consideration and carry out measures to ensure mutual prosperity with the regional community through close communication with local stakeholders, and contribute to the realisation of a carbon neutral society in 2050 by providing a large-scale stable supply of clean energy through offshore wind power for the coming generations.”

The operating company plans to begin construction in 2026 and the wind farm is due to become operational in 2029.

Over a 30-year exclusive occupancy period, the project will support regional growth and the development of Japan’s offshore wind sector, including the establishment of a local supply chain.

Akita Bank will team up with local companies and carry out regional development measures. Spanish utility Iberdrola reported a net profit of €4.8bn ($5.19bn) in 2023, up more than 10% from 2022, while its earnings grew 9% year-on-year to €14bn.