Japanese firm takes majority stake in Cork-based offshore wind developer Simply Blue

Hugh Kelly CEO Simply Blue Group, An Taoiseach Micheal Martin and Toro Kuwahara, Executive Vice President and the General Manager of the International Business and Cooperation Division at The Kansai Electric Power Co., Inc. 30/10/2025 Photograph: ©Fran Veale/Julien Behal Photography

Cork's Simply Blue Group has secured a strategic investment from Japan's Kansai Electric Power Co. (KEPCO), with the utility acquiring a majority stake in its offshore wind arm through a subsidiary.

The deal, announced today, marks KEPCO's debut in managing an offshore wind developer and aims to fast-track Simply Blue's expansion in floating and fixed-bottom wind projects across Europe and beyond.

Under the agreement, KEPCO's wholly owned Dutch unit, KPIC Netherlands, will take control of Simply Blue Energy OSW (SBE OSW), which is developing a pipeline of 8GW in floating offshore wind and 4GW in fixed-bottom projects. This includes floating wind farms off Ireland's southern and western coasts.

Financial terms of the deal were not disclosed.

"This investment represents a pivotal moment for us," said Hugh Kelly, co-founder and CEO of Simply Blue Group. "The support from KEPCO provides the strength and resources needed to scale our operations and advance our offshore wind initiatives."

Toru Kuwahara, KEPCO's executive vice president and general manager of the global EX division, described the partnership as a step toward advancing offshore wind expertise and contributing to a carbon-neutral society.

KEPCO's Zero Carbon Vision 2050 targets 5 million kW of new domestic renewable capacity by 2040, with a cumulative 9m kW. For Simply Blue, founded in 2011 and headquartered in Cork, the influx of capital and Japanese technical know-how is expected to accelerate project delivery in markets including Ireland, the UK, Spain, and Canada. Simply Blue operates from offices in Cork, Dublin, Belfast, Newquay, Pembrokeshire, Edinburgh, Bilbao, and Nova Scotia, emphasising local economic benefits and environmental coexistence.

The investment underscores growing Japanese interest in European offshore wind, amid global pushes for net-zero emissions. KEPCO serves more than 13m customers in Japan's Kansai region and is diversifying beyond its traditional power generation into renewables, telecommunications, and real estate.

On the deal, Taoiseach Micheál Martin said: "Simply Blue has been a significant international actor in the fast-growing offshore renewable energy sector and this collaboration with KEPCO will further bolster its capacity. Together, they will help drive the transition from fossil fuels to clean energy in Ireland and further afield."