Japan considers new policies for offshore wind farm sector

Business Business: Japan is considering new policies to develop its offshore wind farm sector to get its energy goals back on track. The aim is to achieve 45 gigawatts of capacity by 2040, increasing energy self-sufficiency and reducing carbon emissions. But plans have been stalled due to rising project costs and construction delays.

Companies such as Mitsubishi have reviewed their plans due to cost increases, while companies such as Denmark’s Orsted and Shell have pulled out of Japan. To deal with this situation, the Japanese government is considering changes in policies in collaboration with the industry. These include increasing the project duration to 40 years, and allowing foreign ships to work in offshore farm areas.