TOKYO — 13 December 2023 — JERA Co., Inc. (“JERA”), Electric Power Development Co., Ltd. (“J-POWER”), Tohoku Electric Power Co., Inc. (“Tohoku”), and Itochu Corporation (“ITOCHU”), through a consortium led by JERA, applied to operate an offshore wind power project off Oga City, Katagami City, and Akita City in Akita Prefecture (the “Project”) under the Act on Promoting the Utilization of Sea Areas for the Development of Marine Renewable Energy Power Generation Facilities, and were selected today as the Project’s business operator by Japan’s Ministry of Economy, Trade, and Industry (“METI”) and Ministry of Land, Infrastructure, Transport, and Tourism (“MLIT”).

All four companies have developed, constructed, and operated large-scale power generation projects around the world for many years. In developing the Project, they will bring together their respective expertise and strengths to generate new synergies as part of their commitment to achieving a world-class offshore wind power generation project that is long-term, stable, and efficient.

As the consortium develops the Project, it will respect the “Opinion of the Council on the Sea Area Offshore Oga City, Katagami City, and Akita City in Akita Prefecture" and proceed based on the principle of coexistence and co-prosperity with local communities and the fishing industry. As offshore wind power generation projects are long-term, and because this Project is among the largest ever undertaken in Japan, the consortium will seek the understanding and cooperation of local residents and all other stakeholders as it contributes to the development of local economies and to the realization of a sustainable society through decarbonization.