Sumitomo Corporation Acquires a 33.3% Stake in the Gwynt Glas Offshore Wind Farm in the UK, First Investment in a Floating Offshore Wind Project

Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and CEO: Shingo Ueno) is delighted to announce the acquisition of a 33.3% equity interest in the Gwynt Glas Offshore Wind Farm ("the Project") being developed by EDF power solutions UK and Ireland and Electricity Supply Board (“ESB”) in the Celtic Sea off the United Kingdom, thereby joining the Project as a strategic partner.

The Project involves the development, construction and operation of a floating offshore wind farm with a planned generation capacity of up to 1.5 GW, located around 40 kilometers off the coast of the UK in the Celtic Sea.

The UK government has positioned offshore wind as a key large-scale power source in achieving its Net Zero 2050 target. In particular, floating offshore wind is expected to unlock vast wind resources in deeper waters that are not suitable for conventional fixed-bottom wind turbines.

Since making its first investment in a European offshore wind project in 2014, Sumitomo Corporation has accumulated extensive expertise throughout the development, construction and operation phases of offshore wind projects. This marks Sumitomo Corporation's first participation in a floating offshore wind project. By working closely with partners with proven experience in developing floating offshore wind projects in Europe, Sumitomo Corporation will contribute to the advancement of the Project.

In 2025, Sumitomo Corporation signed a comprehensive Memorandum of Understanding with the UK's Office for Investment under the Department for Business and Trade, now the Department for Business, Innovation, Science and Trade, to promote business investment in the United Kingdom. This investment represents one of the concrete initiatives being undertaken under that framework. By working closely with the UK government and leveraging its expertise and global network, Sumitomo Corporation will contribute to the advancement of clean energy in the UK.

In its Medium-Term Management Plan 2026, announced in May 2024, Sumitomo Corporation has positioned the acceleration of portfolio transformation as one of its key management priorities. In its overseas energy solutions business as well, Sumitomo Corporation aims to further enhance corporate value and achieve sustainable growth by strategically allocating the capital and management resources generated through the optimization of its business portfolio to growth areas such as the Project. Sumitomo Corporation will continue to develop renewable energy projects taking into account the energy policies and market characteristics of individual countries and regions, including the United Kingdom, thereby contributing to the realization of a sustainable society.

Comments

Jun Minase, General Manager, Overseas Energy Solutions SBU at Sumitomo Corporation:

"We are delighted to join the Gwynt Glas project. As a large-scale floating offshore wind development being advanced by EDF power solutions UK and Ireland and ESB, the Project represents an important opportunity to contribute to the energy transition. Leveraging our experience and expertise in both the UK market and the offshore wind sector, Sumitomo Corporation will work closely with its partners to support the successful development of the Project and enhance its long-term value. The United Kingdom remains an important strategic market for Sumitomo Corporation. Through this investment, we aim to contribute to the UK Government's Net Zero 2050 ambitions while supporting the energy transition and the realization of a more sustainable society."

Matthieu Hue, CEO of EDF power solutions UK and Ireland:

"We are delighted to welcome Sumitomo Corporation to the Gwynt Glas team. Their extensive global experience in offshore wind development and investment complements our own and ESB’s, creating a powerful partnership dedicated to delivering this vital project for Wales and the UK.”
“We look forward to working closely with our new and existing partners.”

Jim Dollard, Executive Director, Generation Trading at ESB:

“We are delighted to welcome Sumitomo Corporation to the Gwynt Glas project, and are looking forward to working with them together alongside our longstanding partners, EDF power solutions UK and Ireland. This marks another significant step at this stage of the project – one which is so important to us at ESB as offshore wind will be a cornerstone of the delivery of our net zero carbon emissions strategy.

Project Overview

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