Iberdrola Renewables Japan

What Iberdrola Renewables Japan does

Iberdrola Renewables Japan K.K. is the Japanese renewable energy development platform of Spain-headquartered Iberdrola group, established in December 2020 following Iberdrola's acquisition of Acacia Renewables from Macquarie's Green Investment Group. The company is a private, wholly-owned subsidiary of Iberdrola Renovables Internacional, S.A.U., headquartered in Tsukiji, Chuo-ku, Tokyo, with 51-100 employees and 450 million JPY registered capital. Its core business is the development, ownership, investment, construction, operation, maintenance, and asset management of renewable energy power plants in Japan, with primary focus on offshore wind farms.

The company's commercial activity centers on Japan's government-run offshore wind auction program under the Law Concerning the Promotion of Utilization of Sea Area for Development of Offshore Renewable Energy Power Facilities. Rather than bidding independently, it operates through multi-party consortia that combine global offshore wind expertise from Iberdrola (38,035 MW of installed renewable capacity and a 33 GW offshore wind pipeline globally) with domestic partners such as Japan Renewable Energy Corporation (JRE), Tohoku Electric Power, Osaka Gas, Cosmo Eco Power, ENEOS Renewable Energy, and local financial institutions including Akita Bank. Its flagship project is the 375 MW Happo-Noshiro offshore wind farm in Akita Prefecture, awarded in March 2024 to install 25 Vestas 15 MW turbines on monopile foundations with COD targeted for 2029. The broader Japan pipeline is reported at approximately 3,900 MW, including the 600 MW Seihoku-oki co-development, the Saga Offshore Wind project, and the Satsuma Offshore Wind project.

Revenue mechanics are project-based and long-cycle. The company earns through eventual power generation sales, asset management fees, and project development fees tied to consortium structures. With all major assets still in development or pre-construction phases and no operational capacity until 2029 at the earliest, the entity is in a capital-intensive buildout phase funded through its parent's balance sheet of over €150 billion in assets and BBB+ credit rating, rather than through standalone revenue. The strategic intent is to capture a meaningful share of Japan's 45 GW by 2040 offshore wind target and contribute to the country's 2050 carbon neutrality goal.

Name

Iberdrola Renewables Japan

Legal name

Iberdrola Renewables Japan K.K.

Website

https://iberdrola-renewables.jp

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

51–100 employees

Short description

Iberdrola Renewables Japan K.K. is the Tokyo-based Japanese renewable energy development platform of Iberdrola group, specializing in offshore wind farm development, ownership, construction, and asset management via government auction consortia, with a flagship 375 MW Akita project targeting 2029 COD.

Ownership category

akta.pro rank

Product category

Offshore Wind Power Generation

NAICS

Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industries

Wind Farm Development & Permitting (Greenfield/Brownfield) (EUACAFAE), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Wind Grid Interconnection & Power Systems (Transformers, Reactive Power, SCADA) (EUAMACAK), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Offshore wind development
• Renewable energy projects
• Wind farm construction
• Clean power generation
• Energy asset management

Headquarters

HQ city

Tsukiji

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D

Revenue model

1. Renewable Energy Development and Asset Management: Iberdrola Renewables Japan is engaged in the development, ownership, investment, construction, operation, maintenance, and asset management of renewable energy power plants, primarily offshore wind farms in Japan.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels1 record

Core offering

Iberdrola Renewables Japan K.K. develops, owns, invests in, constructs, operates, maintains, and manages renewable energy power plants in Japan, with a primary focus on offshore wind farms. The company is participating in the 375 MW Happo Noshiro offshore wind project in Akita Prefecture (COD targeted 2029) as part of a consortium with JRE and Tohoku Electric Power, and manages a broader Japan pipeline of approximately 1.8-3.9 GW.

Product overview

Iberdrola Renewables Japan K.K. is Iberdrola's renewable energy development platform in Japan, specializing in offshore wind farm development. The company operates as part of the global Iberdrola group, leveraging over 20 years of renewable energy experience. The core offering is the development, ownership, investment, construction, operation, maintenance and asset management of renewable energy power plants, with primary focus on offshore wind. The Japan pipeline includes the 375 MW Happo Noshiro project (COD 2029), the Saga Offshore Wind project, and Satsuma Offshore Wind project, all under development. The company expanded through the 2020 acquisition of Acacia Renewables, establishing a total Japan pipeline of approximately 3,900 MW and joining Iberdrola's global portfolio of 33 GW offshore wind projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Offshore Wind Farm Development
• Happo Noshiro Offshore Wind Farm

Quantifiable outcome

• 375 MW offshore wind capacity in Akita Prefecture, Japan, targeting operations from 2029
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered core.

• Japan Renewable Energy Corporation (JRE)coreStrategic or Co-development Partner · 22 March 2024JRE (representative company) and Iberdrola Renewables Japan are consortium partners in GK Happo Noshiro Offshore Wind, which was selected as the operator for a 375 MW offshore wind farm off Happo Town and Noshiro City, Akita Prefecture. JRE leads the consortium. The project targets COD in 2029 with 25 Vestas 15 MW turbines using monopile foundations.
• Tohoku Electric PowercoreStrategic or Co-development Partner · 22 March 2024Tohoku Electric Power is a consortium member in GK Happo Noshiro Offshore Wind for the 375 MW Akita offshore wind project. The company is responsible for all aspects of business execution including development and operation, contributing to regional development in the Tohoku area.
• Osaka Gas Co., Ltd.coreStrategic or Co-development Partner · 1 October 2021Osaka Gas and Saga Offshore Wind Power (jointly with Iberdrola Renewables Japan) collaborated on the Saga Prefecture Northern Sea Offshore Wind Power Project, submitting Environmental Impact Assessment documents and conducting public notifications. Osaka Gas has set a goal of developing 1,000 MW of renewable energy by fiscal 2030.
• Cosmo Eco Power Co., Ltd.coreStrategic or Co-development Partner · 1 March 2021Iberdrola Renewables Japan announced co-development of the 600 MW Seihoku-oki offshore wind farm with Cosmo Eco Power and Hitz Engineering in March 2021, reinforcing Iberdrola's presence in Japan's offshore wind market.
• Saga Offshore Wind Power K.K.coreStrategic or Co-development PartnerSaga Offshore Wind Power K.K. is an operating company jointly established by Iberdrola Renewables Japan and Macquarie Japan Limited (MJL) for the development of offshore wind power in Saga Prefecture. The company is responsible for development, investment, construction, ownership, operation & maintenance, and asset management of offshore wind power plants in the Saga region.
• Hitz Engineering (Hitachi Zosen)coreStrategic or Co-development PartnerPartner in the co-development of the 600 MW Seihoku-oki offshore wind farm together with Iberdrola Renewables Japan and Cosmo Eco Power, announced in March 2021.
• Mitsui Fudosan Co., Ltd.coreStrategic or Co-development PartnerMitsui Fudosan, a leading Japanese real estate company, partnered with Acacia Renewables (predecessor of Iberdrola Renewables Japan) on the Satsuma Offshore Wind Power Project, conducting joint public notifications for Environmental Impact Assessment under Japan's EIA Law.
• ENEOS Renewable EnergycoreStrategic or Co-development PartnerENEOS Renewable Energy serves as the representative company in the GK Happo Noshiro Offshore Wind consortium for the 375 MW Akita offshore wind project. The consortium was selected by the Japanese government in March 2024.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Others

• Vestas: Vestas is the leading wind turbine manufacturer supplying the 15 MW turbines for the Happo Noshiro project. While not a direct competitor, Vestas is an essential technology partner and infrastructure enabler for Iberdrola Renewables Japan's offshore wind pipeline.

Direct peers

• Cosmo Eco Power: Cosmo Eco Power is a Japanese renewable energy developer partnering with Iberdrola on the 600 MW Seihoku-oki offshore wind farm. It also independently develops offshore wind projects, making it a partner-competitor in the Japanese market.
• Japan Renewable Energy Corporation (JRE): JRE is Japan's largest renewable energy developer and the lead consortium partner with Iberdrola on the 375 MW Happo Noshiro offshore wind project. Both companies target Japan's offshore wind auction program with similar consortium-based development strategies.
• ENEOS Renewable Energy: ENEOS Renewable Energy serves as the representative company in the Happo Noshiro consortium with Iberdrola. As a major Japanese energy company with renewable energy ambitions, it competes and partners in offshore wind development.
• EDF Renewables Japan: EDF Renewables is a global renewable energy developer with offshore wind operations in Japan. It competes directly with Iberdrola Renewables Japan in Japanese offshore wind auctions and project development.
• Hitachi Zosen (Hitz Engineering): Hitachi Zosen is a Japanese engineering company co-developing the 600 MW Seihoku-oki offshore wind project with Iberdrola. It is a peer in Japanese offshore wind project development with engineering and construction capabilities.
• ENGIE Japan: ENGIE is a global energy company with renewable energy and offshore wind development activities in Japan, directly competing with Iberdrola Renewables Japan in the Japanese offshore wind market.
• EDP Renováveis Japan: EDP Renováveis is a major European renewable energy developer with offshore wind activities in Japan. It is a direct competitor to Iberdrola Renewables Japan for offshore wind project development rights.
• RWE Renewables Japan: RWE is a major European utility with active offshore wind operations in Japan, including participation in Japanese offshore wind auctions. It is a direct competitor to Iberdrola Renewables Japan for government auction wins.

Broad incumbents

• Ørsted: Ørsted is the global leader in offshore wind development with operations across multiple geographies including Japan. As a much larger incumbent with extensive project track record, it represents the gold standard competitive threat to Iberdrola Renewables Japan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/iberdrola_en

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iberdrola Renewables Japan