Export opportunity – Japan offshore wind
Key details
Opportunity: Offshore wind
Country: Japan
Sector: Energy
Japan – offshore wind opportunity summary
According to the Japan Wind Power Association, the country has 128 Gigawatts (GW) of fixed-bottom offshore wind power potential, and 424GW of floating wind power potential.
In April 2019, the Offshore Renewable Energy Act was enforced to accelerate offshore wind projects in Japan. Based on this law, the first auction round was conducted and four offshore wind projects, with a combined output of around 1.7GW, have been awarded.
The second auction round for four project sites has now closed.
The Japanese government intends to develop three or four offshore wind promotional areas per year generating 300 to 350 Megawatts (MW) for each area with the aim of achieving up to 45GW by 2040.
Scale of export opportunity
According to Yano Research Institute, the offshore wind power generation market in Japan will be worth ¥920 billion (approximately £6.6 billion) by 2030.
The 139MW Akita Offshore Wind project (the first Japanese utility scale offshore wind project) is estimated to cost $932 million USD.
Company suitability:
Scottish companies best positioned to win this type of business will fit with some of the following:
- Fixed-bottom and floating offshore wind developers and operators
- Supply chain companies specialising in floating technologies, base port construction, operations and maintenance, balance of plant, installation and commissioning, subsea engineering, geotechnical and environmental services
- Companies which are already trading internationally
Register your interest
If you are interested in this opportunity and would like to talk to one of our in-market specialists, complete our online form and we'll be in touch.
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