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Penta-Ocean Construction Co., Ltd.
Takuzo Shimizu, President, CEO and Representative Director

Tokyo, Japan - March 28, 2025 - Penta-Ocean Construction (hereinafter POC) hereby announces that we obtained a loan from the Japan Railway Construction, Transport and Technology Agency (hereinafter, JRTT) for constructing a heavy lift vessel (hereinafter, HLV) which will be used for offshore wind construction.

The loan was granted pursuant to the accreditation by the Ministry of Land, Infrastructure, Transport and Tourism that the HLV construction qualifies as an applicable project under the Act on Advancement of Integration and Streamlining of Distribution Business (the Comprehensive Logistics Efficiency Act).
The reason for the accreditation is that the construction of HLV for transport and installation of wind turbine foundations will provide viable solutions to various issues, including transportation efficiency, improvement of operating rate and reduction of environmental impact. Compared to construction using conventional offshore installation vessels and crane vessels, the HLV will demonstrate considerable advantages especially when wind turbines are expected to become larger.
As the loan is provided under the framework of the Fiscal Investment and Loan Program, which is primarily funded by government-issued FILP bonds, we were able to secure a long-term and low-interest funding.

Terms of the Loan

(Reference) Outline of the HLV
As monopile foundations for bottom-fixed offshore wind will become increasingly heavier with larger wind turbines, constructing foundations for 15 to 20MW-class turbines by offshore installation vessels alone is likely to pose major challenges. In an attempt to achieve safe and efficient construction of heavier monopile foundations, we will build the world’s largest self-propelled HLV equipped with a fully revolving 5,000t lifting crane, which is designed to operate stand-alone.