The MoU between Scotland’s national economic development agency and the Japanese conglomerate will see both parties work in partnership to explore opportunities in floating offshore wind and green hydrogen.

Three key areas of collaboration have been identified as part of the agreement:

• Decarbonising Projects: including floating offshore wind and the development and installation of energy management systems
• Supply Chain Establishment: including the establishment of an offshore wind supply chain and a green hydrogen value chain
• Knowledge Sharing: including hosting joint educational programs between Japanese and Scottish university students

The agreement was signed at an MoU Ceremony as part of COP26 in Glasgow, which was attended by Scotland’s Cabinet Secretary for Net Zero, Michael Matheson.

Adrian Gillespie, CEO of Scottish Enterprise, said: “Scotland has strong trade and investment links with Japan, particularly in key sectors such as renewable energy.

“This MoU with Marubeni will strengthen our valued relationship and support Scotland’s net-zero ambitions. We look forward to working with Marubeni to develop our long-term partnership.”

As part of the company’s activities for enhancing sustainability, in September 2018 Marubeni introduced new business policies regarding its coal-fired power generation business and its renewable energy generation business. And in March 2021, the company published its Marubeni Long-Term Vision on Climate Change.

Yoshiaki Yokota, managing executive officer, chief executive officer, Power Business & Infrastructure Group, Marubeni Corporation, added: “We are delighted to announce this ambitious MOU with Scottish Enterprise.

“Having world-leading decarbonisation targets coupled with well-structured and experienced institutions to enable them, Scotland provides truly exciting business opportunities, through its focused approach to renewable energy and net zero.

“We are confident that with our global experience including floating offshore wind and hydrogen projects, we can contribute to achieving those targets.”

The Scottish Government has introduced world-leading climate change legislation that sets a target date for net-zero emissions of all greenhouse gases by 2045.

Mr Matheson said: “We need bold action to tackle the climate emergency. The Scottish Government is committed to an economic recovery from COVID-19 that is green and fair. Our Inward Investment Plan articulates the important role that inward investment can play in delivering high-value jobs to the economy and achieving our net zero ambition.

“By acting now, we can set Scotland on a pathway to meeting our climate change targets in a way that supports a Just Transition and delivers opportunities for all.”

The Scottish Government’s previously published Inward Investment Plan sets out a new strategic approach for attracting investment that aligns with Scotland’s national values, and positions inward investment to play an important role in achieving Scotland’s net zero targets.

Japan is one of Scotland’s leading inward investors, with more than 100 Japanese-owned companies based in the country. Scottish Enterprise’s international trade and investment arm, Scottish Development International (SDI), has trade and investment specialists based in Tokyo, promoting economic opportunities across sectors such as low-carbon, life science and food & drink.

Stephen Baker, SDI’s country head for Japan, added: “There is significant interest in Japan about Scotland’s activities, particularly in relation to renewable energy.

“My colleagues and I will continue to highlight the skills our companies and workforce possess and the significant commercial opportunities in Scotland that can be addressed by overseas companies through inward investment.”