Sumitomo Corporation Acquires a 33.3% Stake in the Gwynt Glas Offshore Wind Farm in the UK, First Investment in a Floating Offshore Wind Project
United Kingdom, Aug. 11 -- Sumitomo Corporation is delighted to announce the acquisition of a 33.3% equity interest in the Gwynt Glas Offshore Wind Farm ("the Project") being developed by EDF power solutions UK and Ireland and Electricity Supply Board ("ESB") in the Celtic Sea off the United Kingdom, thereby joining the Project as a strategic partner.The Project involves the development, construction and operation of a floating offshore wind farm with a planned generation capacity of up to 1.5 GW, located around 40 kilometers off the coast of the UK in the Celtic Sea.The UK government has positioned offshore wind as a key large-scale power source in achieving its Net Zero 2050 target. In particular, floating offshore wind is expected to unl...
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