Sumitomo acquires stake in Gwynt Glas floating wind farm

Japanese firm Sumitomo has acquired a 33.33 per cent shareholding in the Gwynt Glas offshore wind project situated off the coast of Wales. The investment places the company alongside EDF and ESB as partners within the venture. Developers state that this new entry will facilitate progress through the remaining stages of development, with operations expected to commence during the mid-2030s.

The proposed 1.5GW floating facility is located in the Celtic Sea and recently submitted its scoping report to the Planning Inspectorate for review. Matthieu Hue, chief executive of EDF Power Solutions UK and Ireland, described Sumitomo’s global experience as a valuable complement to existing capabilities. He emphasised that this collaboration creates a powerful partnership dedicated to delivering vital energy infrastructure for Wales and the wider United Kingdom.

Sumitomo is simultaneously developing a subsea cable factory at the Port of Nigg on the Cromarty Firth, with an investment value of £350 million intended to supply cables for various offshore wind farms. The firm has also secured a deal with SSEN Transmission to provide high voltage direct current systems for the Shetland 2 project, which will serve as an anchor client for its new facility.

Jun Minase, general manager for overseas energy solutions at Sumitomo, characterised Gwynt Glas as a significant opportunity to contribute to the national energy transition. He noted that leveraging expertise in both the UK market and offshore wind sectors would support successful project development while enhancing long-term value. This move aligns with broader Japanese investment trends into British renewable industries following a recent agreement worth £9 billion.

Floating technology is particularly attractive, aiming to constitute between one third and half of Japan’s 30-45GW target by 2040. A total capacity of 5.9GW in floating projects stands set to benefit from these investments, including developments such as Scotland Ossian, Green Volt and the Erebus project.

Other Japanese entities are also active in this space; TEPCO participates in Flotation Energy behind the Green Volt initiative, while KEPCO holds an eighty per cent stake in Simply Blue Group. The latter group is developing the Salamander floating wind project with a capacity of 100 MW based in Cork.