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Japan: Offshore wind
Market opportunity: Offshore wind
Key details
Opportunity: Offshore wind
Country: Japan
Sector: Energy
Summary
According to the Japan Wind Power Association, the country has 128 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, which will accelerate offshore wind projects in Japan towards realising some of this potential.
The Japanese government intends to develop three or four promotional areas with 300-350MW for each area. In addition, they have announced a further 10 advanced areas for future wind auction.
Scale of opportunity
According to Yano Research Institute, the offshore wind power generation market in Japan will be worth ¥920 billion JPY (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 alone.
Eligible companies
This opportunity is open to:
- 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 robotics, geotechnical and environmental services
Register your interest
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Register your interest
Get in touch with our in-market specialists to find out more about this export opportunity.