Sumitomo Corporation has acquired a 33.3 per cent equity interest in the Gwynt Glas offshore wind farm project in the Celtic Sea, joining EDF Power Solutions UK and Ireland and Electricity Supply Board as a strategic partner. Located approximately 40 kilometres off the UK coast, the floating offshore wind project has a planned generation capacity of up to 1.5 GW.
The transaction marks Sumitomo Corporation's first investment in a floating offshore wind project.
The company began investing in European offshore wind projects in 2014, while the latest acquisition forms part of an investment initiative under a memorandum of understanding signed with the UK Department for Business, Innovation, Science and Trade in 2025.
Ownership of the Gwynt Glas development is divided equally among EDF Power Solutions UK and Ireland, Electricity Supply Board and Sumitomo Corporation, with each holding a 33.3 per cent stake. Consent applications are scheduled to begin in 2028, with commercial operations targeted for the late 2030s.
Jun Minase, General Manager of the Overseas Energy Solutions SBU at Sumitomo Corporation, said the company intends to apply its sector expertise to support the project's development and enhance its long-term value. He added that the UK remains an important strategic market for the company.
“Their extensive global experience in offshore wind development and investment complements our own and ESB’s,” said Matthieu Hue, Chief Executive Officer of EDF Power Solutions UK and Ireland.
Jim Dollard, Executive Director of Generation Trading at Electricity Supply Board, described the agreement as “another significant step at this stage of the project”.