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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Marubeni Corporation    8002   JP3877600001

MARUBENI CORPORATION

(8002)
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Marubeni : Seajacks (U.K.) Signing of Turbine Foundation Installation Contract for Offshore Wind Farm Project at Akita Port and Noshiro Port in Akita Prefecture Deployment of Large Offshore Wind Installation Vessel

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03/26/2020 | 09:08pm EDT

March.27.2020

Marubeni Corporation

Seajacks (U.K.) Signing of Turbine Foundation Installation Contract for Offshore Wind Farm Project at Akita Port

and Noshiro Port in Akita Prefecture Deployment of Large Offshore Wind Installation Vessel

Seajacks International Limited (hereinafter, "Seajacks"), a U.K.-based offshore wind power installation provider, owned by Marubeni Corporation (Marubeni), Innovation Network Corporation of Japan, and Mitsui O.S.K. Lines, Ltd., through its 100% subsidiary Seajacks Japan, Ltd., singed a foundation installation contract with Kajima Corporation on March 23, 2020, for an offshore wind farm project at Akita Port and Noshiro Port inAkita Prefecture. This project, in which Marubeni invests, is expected to be the first bottom-fixedlarge-scale offshore wind power project in Japan funded 100% on a commercial basis. This is the first contract in Japan for Seajacks who will commence offshore construction work on a large wind installation vessel called Zaratan in Japan in 2021.

Seajacks owns 5 offshore wind installation vessels, including one of the world's largest and most capable vessels called Scylla, and it has installed more than 450 wind turbines primarily in European waters. In Asia, Seajacks signed Taiwan's first offshore turbine installation contract in 2018 for the Formosa 1 Phase 2 offshore wind farm project (120MW). It was the first offshore wind farm in Taiwan completed in 2019 on the basis of commercial financing. In addition, Seajacks has secured two more contracts in Taiwan - the Formosa 2 offshore wind farm project (376MW), scheduled to begin installation in 2021, and the Greater Changhua offshore wind farm project (888MW), schedueld to begin installation in 2022. Seajacks is an experienced operator of special purpose vessels that supports the establishment of offshore wind supply chain around the world including Japan, Taiwan and Europe.

In terms of power generation infrastructure, Marubeni has a global track record of 112.4GW in executing engineering, procurement and construction (EPC) projects and has expanded its net power generation assets portfolio to over 12.5GW across 19 countries. Marubeni strives for continued and sustained growth in offshore wind across Europe, Asia and United States and proactively pursues opportunities throughout the total value chain in development, construction and operation.

Marubeni, as part of the activities for enhancing sustainability, issued the Notification Regarding Business Policies Pertaining to Sustainability in Relation to Coal-Fired Power Generation Business and Renewable Energy Generation Business in September, 2018 for the purpose of contributing to solving the global climate change and will continue to expand its business activities in the renewable energy power sector throughout the world.

  • February 3, 2020

Implementation of Offshore Wind Farm Project at Akita Port and Noshiro Port in Akita Prefecture and Conclusion of the Loan Agreements https://www.marubeni.com/en/news/2020/release/20200203E.pdf

  • September 18, 2018

Notification Regarding Business Policies Pertaining to Sustainability

(In Relation to Coal-Fired Power Generation Business and Renewable Energy Generation Business) https://www.marubeni.com/en/news/2018/release/00028.html

Left ZaratanTo be deployed for foundation installation at Akita Port and Noshiro Port. Photo: wind turbine installation in Formosa 1 Phase 2 offshore wind farm project

RightScyllaWorld's largest offshore wind farm installation vessel.

Photo: wind turbine installation in Walney Extension offshore wind farm project

Founded:

2006

Location:

Great Yarmouth, Norfolk, UK

Managing Director:Blair William Anslie

Web:

https://www.seajacks.com

Business Outline: Offshore wind power installation services and offshore services for oil and gas platforms

Disclaimer

Marubeni Corporation published this content on 27 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2020 02:07:05 UTC

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Sales 2020 6 594 B
EBIT 2020 154 B
Net income 2020 7 625 M
Debt 2020 2 024 B
Yield 2020 7,02%
P/E ratio 2020 178x
P/E ratio 2021 4,23x
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