Japan is an emerging market for offshore wind
Slow start for Japan’s offshore wind push
Grid constraints and local opposition present major obstacles to Japan’s plans for 45GW offshore wind by 2040
As offshore wind developers wait with bated breath for the publication of Japan’s full list of Round 1 tender winners, industry experts say a range of market challenges could slow the sector’s growth. Round 1 includes four zones for approximately 1.5GW capacity, with bids capped at ¥29,000/MWh ($259/MWh). This follows the auctioning off of a first site at Goto Islands, which was won by a floating wind development consortium led by Japanese construction company Toda. Japan plans to ramp up development, targeting 10GW by 2030 and 30-45GW by 2040. It has opened £1.3bn ($1.7bn) for offshore wind financing through its Green Innovation Fund. The Ministry of Economy, Trade and Industry (Meti) ex
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