Middle-Eastern renewables developer Masdar and Japanese energy company Cosmo Energy Holdings have signed an agreement to explore the joint development of renewable energy projects in Japan, including in offshore wind.

The two companies have signed a memorandum of understanding (MoU) which they said could support the East Asian country’s target of installing up to 10GW of wind at sea by 2030, and as much as 45GW by 2040.

“The UAE and Japan share common objectives on carbon reduction and climate action and we expect this MoU to help in accelerating Japan’s energy transition and support sustainable economic growth,” Masdar chief executive Mohamed Jameel Al Ramahi said.