Sumitomo Corporation sells stakes in three Belgian offshore wind projects

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Sumitomo Corporation is selling its stakes in three offshore wind power projects off the coast of Belgium as it aims to diversify its business portfolio through reallocating resources and funds.

The company has completed the sale of its interests in the Nobelwind and Northwester 2 projects to existing shareholder JERA Nex bp. Additionally, it has also agreed to sell its stake in the Northwind project to Publiwind, with the transaction expected to close later in the financial year, subject to regulatory approval.

Sumitomo had been involved in each project from development and construction through to operation, contributing to Belgium’s offshore wind power development.

The sales support the company's Medium-Term Management Plan 2026, which focuses rebalancing assets moving to projects earlier in their growth stage, ensuring sustained company growth.

However, Sumitomo has noted that its offshore wind project in France began commercial operations in May 2026 reinforcing their presence in Europe's renewable energy market despite the sales.

For more information about offshore wind farm projects across the globe, click here.

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