MOL Forms Capital Alliance With Japan’s Largest Wind Turbine Maintenance Company

(Takeshi Hashimoto, President & CEO, MOL and Yukari Yoshida, President, Hokutaku)

Japan’s Mitsui O.S.K. Lines, (MOL) and Hokutaku Co., Ltd Japan’s largest wind turbine maintenance company, announced an agreement to form a capital alliance through MOL’s acquisition of a majority of the outstanding shares of Hokutaku.

Hokutaku is the largest third-party maintenance company in Japan that is not affiliated with a specific manufacturer or power producer and has had an extensive customer base in the wind power generation industry since entering the field in 1999.

It serves about 80% of the approximately 2,600 wind turbines in Japan. Appropriate long-term maintenance is essential to support the stable operation of wind power generation plants, so Hokutaku is also focusing on the development of maintenance technical engineers, the source of its competitiveness, using its own wind power generation plants for training and experimental studies.

MOL began discussions with Hokutaku in 2017, and comprehensive advice from the wind power industry pioneer has helped accelerate its entry into the wind power industry.

While Hokutaku has a sufficient track record and operation and maintenance (O&M) technology performance, it is moving away from individual ownership amid the industry’s rapid growth in size and project scale.

The MOL Group has been pursuing offshore wind power generation as part of its “BLUE ACTION 2035” management plan to achieve further growth in its non-shipping business, which it has long advocated, and has now entered the capital alliance.