During the current shift towards renewable energy, the offshore wind energy sector has seen significant growth. This includes the EEW Group, which has promising projects in the works. Starting from July 1, 2024, Sumitomo Corporation will acquire an equity stake in the newly-established EEW Offshore Wind Holding. This partnership brings in Sumitomo’s expertise in the international steel market, making them a strong strategic partner for the family-run EEW Offshore Wind Holding.

“In order to continue to secure our position as a global market leader, to continue to enable healthy growth and to be able to draw on sufficient resources to successfully handle large-scale projects, we, the owner families of Schorge and Dietze, have decided to bring a trusted strategic partner on board for this division. The majority shares remain with us as the owner families,” explains Christoph Schorge, Managing Partner of the EEW Group.

Sumitomo Corporation, based in Tokyo, Japan, is one of the largest integrated trading and business investment companies in the world and employs almost 80,000 people in 65 countries. Sumitomo’s official entry into the EEW Group follows decades of successful business relations. The closing of the transaction is still subject to relevant EU approvals.

“We are excited to partner with EEW, enhancing our role in the offshore wind market. This investment aligns with our commitment of contributing to green transformation and global shift to renewable energy,” explains Takuro Horikoshi, General Manager of Steel Products SBU, Sumitomo Corporation.

Looking ahead Sumitomo Corporation is aiming to contribute to offshore wind power development in Europe through its investment in EEW and by providing a stable supply of monopiles.

As offshore wind power generation attracts attention, some countries, particularly in Europe, are including supply chain decarbonization initiatives in the qualitative evaluation of their power producer selection process, and there are growing needs for greener components.

In light of the shift of international energy companies to renewable energy and steel suppliers’ green shift, both with whom Sumitomo Corporation has been building trust through long-term business, Sumitomo Corporation will work with key players in the industry and EEW to aim to supply green monopiles and contribute to the realization of a decarbonized society through a more sustainable supply chain.