Japan’s Sumitomo sells stakes in three Belgian offshore wind projects

Sales of Nobelwind and Northwester 2 to JERA Nex bp have been completed.

Sumitomo Corporation is selling its interests in three offshore wind farms in Belgium as part of a portfolio restructuring.

The company has completed the sale of its interests in the Nobelwind and Northwester 2 offshore wind farms to existing shareholder JERA Nex bp.

It has also agreed to sell its stake in the Northwind project to Publiwind, a consortium of Belgian investors.

The Northwind transaction is subject to regulatory approval and is expected to close in fiscal year 2026.

Sumitomo joined the Northwind, Nobelwind and Northwester 2 projects in 2013, 2014 and 2018, respectively, and was involved in their development, construction and operation.

The divestments support the company's Medium-Term Management Plan 2026, which aims to accelerate portfolio transformation by recycling capital from asset sales into growth businesses.

The company said it remains committed to expanding its renewable energy business in Europe, where offshore wind continues to play a growing role in the region's energy transition.

It also noted that its offshore wind project in France began commercial operations in May 2026.