Offshore wind power is an integral part of Japan’s decarbonisation strategy and the government is targeting to deploy 10GW of offshore wind capacity by 2030 and 30GW to 45GW by 2040, including floating wind, as part of its target to reach net-zero emissions by 2050. Japan’s 6^th Strategic Energy Plan envisages renewables to account for 36% to 38% of its power generation mix in 2030.

As Japan seeks to accelerate the development of its offshore wind power generation capabilities, the market is continuing to attract majors to the opportunities such as BP, Marubeni, Orsted, SSE and RWE. Focus is currently on Japan’s third offshore wind auction which was launched last December. The auction is for a generation capacity of up to 356MW in the Happo-Noshiro zone, off Akita prefecture and the winner is expected to be announced by December 2022 or early 2023. There are also great potential and interest for floating wind farms, particularly in countries such as Japan, due to its deeper coastal waters. Back in June 2021, a consortium led by Toda Corporation was selected to develop Japan’s first floating offshore wind farm off the coast of Goto City, Nagasaki Prefecture.

With Japan’s ever-increasing energy demand as well as energy security on the agenda, speeding up the development of offshore wind power is essential, hence creating a multitude of business opportunities for developers and supply chain companies alike.