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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

Register your interest

Get in touch with our in-market specialists to find out more about this export opportunity.