Opportunity: Offshore wind

Country: Japan

Sector: Energy

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 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, are currently under review.

The second auction round for four projects sites has been opened and will close on 30 June 2023.

The Japanese government intends to develop three or four offshore wind promotional areas per year generating 300-350MW for each area with the aim of achieving 30-45GW by 2040.

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.

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

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.

Register your interest