HomeBusinessEC approves acquisition of EEW Offshore Wind EU by EEW and Sumitomo

EC approves acquisition of EEW Offshore Wind EU by EEW and Sumitomo

The EC has given the green light to the acquisition of joint control of EEW Offshore Wind EU by EEW Holding and Sumitomo, under the EU Merger Regulation.

This move involves the collaboration of two entities from Germany and one from Japan, which focus on the production of large steel pipes essential for the construction of offshore wind farms.

The Commission’s analysis concluded that the acquisition would not raise competition concerns.

The decision was influenced by the assessment that the market structure would remain largely unaffected by this transaction.

In August last year, Sumitomo announced its plans to acquire an equity stake in EEW Offshore Wind EU to increase its monopile production capabilities.

The partnership aimed to integrate Sumitomo’s extensive expertise in the international steel market with EEW’s specialized focus on offshore wind energy infrastructure.

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In the same period, the EC allocated 998 million euros to a Dutch initiative aimed at promoting green hydrogen production. In addition, it provided €80 million to Djewels, a subsidiary of HyCC, to support the development of its green hydrogen production technology.

In the context of the EU hydrogen strategy and the European Green Deal, the Commission wants to accelerate the development of green hydrogen. Hydrogen is considered green if it is produced through the electrolysis of water using renewable energy.

The latest funding will help build at least 200 MW of electrolysis capacity and will be allocated through a bidding process that will be completed in 2024. To qualify for the tender, projects must have a minimum capacity of 0.5 MW.

In October 2024, Sumitomo Corporation of Americas and Perennial Power Holdings partnered with CEP Solar to establish a joint venture focused on developing clean energy projects in Virginia, USA. The partnership aims to bring to market a portfolio of more than 1.5 GW of solar energy and battery storage.

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“EC Approves Acquisition of EEW Offshore Wind EU by EEW and Sumitomo” was originally created and published by Power Technology, a brand owned by GlobalData.


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