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Sumitomo Expands UK Renewable Portfolio With 1.5 GW Floating Wind Project

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Sumitomo Corporation acquired a 33.3% stake in the Gwynt Glas offshore wind farm in the UK, marking its first floating offshore wind investment, the company said Monday.

The project, developed by EDF Power Solutions UK and Ireland and Electricity Supply Board, will have up to 1.5 GW of planned capacity in the Celtic Sea, about 40 kilometers offshore.

Sumitomo has built offshore wind expertise since making its first European investment in the sector in 2014, covering project development, construction and operations, the company said.

Floating wind turbines could open deeper waters that conventional fixed-bottom technology cannot reach, supporting the UK's broader offshore wind strategy toward its Net Zero 2050 target, Sumitomo said.

The investment follows Sumitomo's 2025 Memorandum of Understanding with the UK's Office for Investment under the Department for Business and Trade to promote business investment in the country.

Sumitomo identified portfolio transformation as a key priority in its medium-term management plan 2026, announced in May 2024, and said it plans to direct resources toward growth areas such as renewable energy.

EDF Power Solutions UK and Ireland, Electricity Supply Board and Sumitomo will each hold 33.3% of the project, with the development schedule targeting a consent application from 2028.

The Gwynt Glas project expects commercial operations to begin in the late 2030s, as Sumitomo works with its partners to advance floating offshore wind development and clean energy in the UK, it said.

"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," said Jun Minase, General Manager, Overseas Energy Solutions SBU at Sumitomo Corporation.

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