The UK and Japan have agreed an Offshore Wind Compact that will facilitate up to£9 billion(approximately USD 21.1 billion)of Japanese investment in UK offshore wind projects.The compact,developed in partnership with Great British Energy,supports the development of 5.9 GW of floating offshore wind projects in the UK in which Japanese companies hold stakes.

The projects include the Ossian and Green Volt projects off the east coast of Scotland,as well as the Erebus project in the Celtic Sea.The Ossian project,with a capacity of up to 3.6 GW,is a joint venture between SSE Renewables,Marubeni Corporation and Copenhagen Infrastructure Partners(CIP).The 560-MW Green Volt project is a joint venture between Flotation Energy and Vargronn.Flotation Energy,though based in the UK,is a subsidiary of Japanese utility TEPCO.The 100-MW Erebus project involves Kansai Electric Power Co Inc(KEPCO)through its investment in Simply Blue Energy.

The compact was announced on June 14 in London during a meeting between UK Prime Minister Keir Starmer and Japanese Prime Minister Sanae Takaichi,alongside other deals expected to bring more than£18 billion in total economic gains to the UK,including over£9 billion in infrastructure and financial services investment.