September 18, 2024
ENEOS Renewable Energy Corporation

Participation in floating offshore wind projects in Norway
ENEOS Renewable Energy Corporation (Head Office: Minato-ku, Tokyo; President: Kazuhiro
Takeuchi; hereinafter 'ERE') has entered into an agreement to purchase a 20% interest in theNorwegian GoliatVIND floating offshore wind farm project (hereinafter 'the Project').
The Project involves the construction and operation of a floating offshore wind farm with an
installed capacity of 75,000 kW (five 15,000 kW wind turbines installed on Odfjell Oceanwind’s
semi-submersible steel foundation design Deepsea Star™) on the border between thenorthern Norwegian Sea and Barents Sea in northern Norway at a depth of around 400 meters.
The Project will be jointly developed with the other shareholders, Source Galileo, Odfjell
Oceanwind and Kansai Electric Power Group, aiming for a commercial operation date of 2028.
The Norwegian government has set a CO2 reduction target of 50-55% of 1990 levels by 2030,
and to achieve this it is essential that the electricity used by the oil and gas industry is to beobtained from renewable energy sources. The government has also set a target of 30 GW ofoffshore wind power by 2040, and discussions are underway on government subsidies.
GoliatVIND received a grant of 2 billion NOK (185 million USD) from the Norwegian state
enterprise ENOVA SF earlier this year, under a program aimed at demonstrating and reducing
the costs of floating offshore wind. This is ERE's first overseas offshore wind project and thesecond floating offshore wind project after the Gotō City offshore wind project. ERE intends
to contribute to this project by utilizing its know-how and experience in onshore and offshore
wind power generation projects.
In addition to joining the Floating Offshore Wind Technology Research Association (FLOWRA)
in June this year, which aims to promote technology development and innovation for thecommercialization of floating offshore wind power, ERE will also participate in advanced
initiatives in Norway, and will use the knowledge and expertise gained from its floatingoffshore wind operations to contribute to the full-scale development of the offshore windbusiness that is anticipated to emerge in Japan over the medium term. The Company will leadthe market toward the full commercialization of floating offshore wind power generation

Corporate Communications & CSR, Roppongi Hills North Tower, 6-2-31 Roppongi, Minato-ku, Tokyo, 106-0032, Japan
TEL +81-3-6455-4905 pr@eneos-re.com

during this period.
The Company will continue to expand its renewable energy power generation business,
including offshore wind power, and contribute to the realization of a decarbonized society.
【Project Site】【Overview of the Project】（This is a schedule at present and is subject to change in the future.）
Project Area
Power Generation Method

Approximately 90 km offshore in the Norwegian Sea /Barents Sea, Northern Norway
Floating Offshore Wind Power Generation（Foundation：Semi-Submersible Type ※）Facility Capacity

75,000 kW (5 units of 15,000 kW each)

Project Company Name

GoliatVIND
Source Galileo (40%)

Investors (Percentage andOdfjell Oceanwind (20%)

Investment Order)

Kansai Electric Power Group (20%)
ENEOS Renewable Energy Corporation (20%)※A type of wind turbine installed on a floating facility that is submerged to a predetermined depth andremains semi-submerged. Suitable for offshore installations as they are less susceptible to waves.

Corporate Communications & CSR, Roppongi Hills North Tower, 6-2-31 Roppongi, Minato-ku, Tokyo, 106-0032, Japan
TEL +81-3-6455-4905 pr@eneos-re.com

【Overview of investors (other than ERE)】
Source Galileo
Company nameLocation

Source Galileo
Grand Canal House, 1 Grand Canal Street Upper, Ballsbridge,Dublin D04 Y7R5

Representative

Kevin Lynch, Chief Executive Officer

Business activities

Renewable energy projects, including offshore wind power

Odfjell Oceanwind
Company name

Odfjell Oceanwind

Location

Kokstadflaten 35, NO-5257 Kokstad, Norway

Representative

Per Lund, Chief Executive Officer

Business activities

Solution service business for the design, construction andoperation of floating offshore foundations, and associatedprojects

Kansai Electric Power Group
Company name

The Kansai Electric Power Company, Inc.

Location

3-6-16 Nakanoshima, Kita-ku, Osaka City, Osaka Prefecture,Japan

Representative

Director, Representative Executive Officer and President
Nozomu Mori

Business activities

Electric power business, heat supply business,telecommunications business, gas supply business, etc.

Corporate Communications & CSR, Roppongi Hills North Tower, 6-2-31 Roppongi, Minato-ku, Tokyo, 106-0032, Japan
TEL +81-3-6455-4905 pr@eneos-re.com