Japan-headquartered heavy lifting and transportation specialist Denzai Group has signed a committed loan facility, totalling JPY12.2 billion (USD81 million), that it will use to invest in equipment to support onshore and offshore wind energy projects.
Denzai said it will acquire large cranes and special transport vehicles in order to respond to the further expansion of onshore and offshore wind farms in Japan. “Improving the efficiency of construction work, we will contribute to achieving the Japanese government’s goal of carbon neutrality by 2050,” said Denzai.
In addition, the company aims to expand its business in ASEAN countries, India, the Middle East and North Africa, also targeting the renewable energy market. “We expect further dramatic growth by utilising this loan facility,” Denzai added.
JPY6 billion (USD40 million) will go towards its domestic machinery investment over three years, while JPY2.5 billion (USD16.5 million) will go towards its investments overseas. Over a period of five years, the loan facility provides a cash reserve and working capital of JPY3.7 billion (USD24.5 million).
Capital Projects Monitor reported last week that Japan’s Ministry of Economy, Trade and Industry (METI) is boosting efforts to develop the offshore wind energy industry, having approved a draft amendment that would allow for projects to be developed in exclusive economic zones. The amendment would allow for new offshore wind energy projects to be developed in in waters further out to sea.
