Japanese trading conglomerate Marubeni has signed a Memorandum of Understanding (MoU) with the Department for Business and Trade of the UK Government, on comprehensive cooperation in clean energy projects, including offshore wind and green hydrogen businesses, in the UK.
The MoU affirms the partnership between the UK Government and Marubeni, indicating the UK Government’s commitment to supporting Marubeni’s plans, with its partners, to invest approximately £10 billion in clean energy projects over the next 10 years.
Marubeni said it will leverage its collaboration with the UK government and local governments to promote clean energy projects in the UK and contribute to the UK’s goal of achieving net zero GHG emissions, while also feeding back the knowledge and experience gained through its UK operations to Japan, thus actively also contributing to Japan’s decarbonisation efforts.
The UK government has committed to the UK achieving net zero greenhouse gas (GHG) emissions by 2050 and is also aiming, by 2030, to deploy offshore wind farms with a total capacity of up to 50 GW, which will include up to 5 GW of floating offshore wind farms and 10 GW of production capacity for low carbon hydrogen.
The latest partnership follows the MoU Marubeni signed with Scottish Enterprise on comprehensive collaboration for the decarbonisation of Scotland through floating offshore wind and green hydrogen businesses in November 2021.