SSE Plc formed a joint venture in Japan to gain a foothold in one of the most promising markets for offshore wind. The Scottish utility, one of the companies behind the world’s largest offshore wind park, will pay $208 million to take an 80% stake in a joint venture with Pacifico Energy, one of Japan’s largest renewable energy firms, it said in a statement on Wednesday. The expansion comes after activist investor Elliott Investment Management called for the company to spin off its renewable arm. Elliott is now said to be one of its top five shareholders. SSE has said no decision has been made. Japan has big plans for its offshore wind market, targeting 10 gigawatts by 2030 and 30-45 gigawatts a decade later. SSE has so far been focused on the U.K. but said in March it was looking for a move into Japan to leverage its […]