Scotland’s national economic development agency signed a memorandum of understanding (MoU) with the Japanese integrated trading and investment business conglomerate, which will see both parties work in partnership to explore opportunities in floating offshore wind and green hydrogen.
Three key areas of collaboration in the agreement are decarbonising projects, supply-chain establishment, and knowledge-sharing. The agreement was signed at an MoU Ceremony, which was attended by Scotland’s Cabinet Secretary for Net Zero Michael Matheson.
Scottish Enterprise points out that Japan is one of Scotland’s leading inward investors, with more than 100 companies owned by the Asian country based here. The development agency’s international trade and investment arm, Scottish Development International (SDI), has trade and investment specialists based in Tokyo, promoting economic opportunities across sectors such as low carbon, life sciences, and food and drink.
Marubeni Corporation in September 2018, as part of its activities for enhancing sustainability, introduced new business polices regarding its coal-fired power generation business and its renewable energy generation business.
Yoshiaki Yokota, managing executive officer, chief executive of the power business and infrastructure group at Marubeni Corporation, cheered the tie-up, adding: “Having world-leading decarbonisation targets coupled with well-structured and experienced institutions to enable them, Scotland provides truly exciting business opportunities, through its focused approach to renewable energy and net zero.
“We are confident that with our global experience, including floating offshore wind and hydrogen projects, we can contribute to achieving those targets.”
Scottish Enterprise chief executive Adrian Gillespie said: “Scotland has strong trade and investment links with Japan, particularly in key sectors such as renewable energy.
“This MoU with Marubeni will strengthen our valued relationship and support Scotland’s net-zero ambitions. We look forward to working with Marubeni to develop our long-term partnership.”
Also commenting was Stephen Baker, SDI’s country head for Japan, who said: “There is significant interest in Japan about Scotland’s activities, particularly in relation to renewable energy.
"My colleagues and I will continue to highlight the skills our companies and workforce possess and the significant commercial opportunities in Scotland that can be addressed by overseas companies through inward investment.”