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Tokyo, Japan - Dec. 27, 2022 - Penta-Ocean Construction Co., Ltd. (President, Takuzo Shimizu, hereinafter POC) hereby announces the discontinuation of the development of the onshore wind power farm project in Futoro-area, Kitahiyama-ku, Setana-cho, Kudo-gun, Hokkaido, for which we have been conducting the feasibility study since FY 3/21.

After the start of the feasibility study in FY 3/21, we have worked on the preparation of the Environmental Impact Assessments (The Primary Environmental Impact Consideration at the Early Stage became available for public perusal on January 29, 2021, and the Scoping Document on Environmental Impact Assessment became available for public perusal on April 7, 2022) and taken part in continuous discussions on grid connection with power companies. Upon a comprehensive review pursuant to the above procedures, we have recently decided not to further pursue the entire project development. The project will now be transferred to J-wind Setana Co., Ltd.

Currently, POC is stepping up initiatives for the construction of, 1. Domestic onshore wind power facilities, 2. An offshore wind power facility within the port area of the Hibikinada district of the Port of Kitakyushu (construction scheduled to start in FY 3/23), as well as for the future construction of offshore wind power facilities in the general sea areas. Going forward, we will continue to undertake challenges of constructing onshore and offshore wind power farms and contribute to the expansion of renewable energy towards achievement of carbon neutrality.