J-POWER, one of Japan’s largest wind power operators, has signed a memorandum of understanding to acquire the domestic onshore wind operations and maintenance (O&M) business of Mitsubishi Heavy Industries (MHI). The two companies aim to finalise the transaction around April 1, 2026, pending completion of contractual details. No financial terms have been disclosed.
Strengthening wind service capabilities
The deal will enable J-POWER to expand its wind power generation operations and increase its technical service offering for existing assets. MHI, which began manufacturing large-scale wind turbines in the 1980s, exited the production business in 2014 but continued to provide after-sales support. Its installed portfolio includes 4,200 turbines in 11 countries with a total capacity of around 4.4GW.
The agreement covers only the domestic Japanese business. MHI remains active in wind energy through a joint venture with Danish manufacturer Vestas, formed in 2021 to market foreign turbines in Japan. This joint venture is not included in the acquisition.
Expanding J-POWER’s wind portfolio
J-POWER currently holds stakes in 23 operating onshore wind projects with a combined installed capacity of 593.3MW. It also owns 40% of the 220MW Kitakyushu Hibikinada offshore project, scheduled for commissioning by the end of fiscal year 2025. Additional onshore assets are under development, including the 51.6MW Kaminokuni No. 3 Wind Farm.
This acquisition aligns with J-POWER’s broader strategy to expand its wind energy portfolio and reinforce its expertise in maintenance services. It comes amid a gradual restructuring of the domestic wind sector, marked by increasing operator specialisation.
