Japan is planning a major expansion of its offshore wind plans that would see 10GW installed in the next decade, according to reports.
Starting in 2021, the country wants 1GW from three to four projects annually, the Nikkei business daily said.
Industry Minister Hiroshi Kajiyama in total wants 30 wind farms spinning by the end of fiscal 2030-31, it reported.
Kajiyama will outline the policy measures to support the plan shortly.
The Ministry of Land, Infrastructure, Transport and Tourism plans to build storage facilities at ports to support construction.
The Ministry of Economy, Trade and Industry (METI) meanwhile will revise power grid rules to lift restrictions on renewables.
First tender for a floating offshore wind zone was commissioned last month.
Recently we have reported that JERA (Japan’s largest utility company), ADEME INVESTISSEMENT (a 100% French State-owned investment company aiming at financing innovative infrastructure projects) and IDEOL (a global leader in floating offshore wind) have agreed on the key terms for the establishment of an investment vehicle dedicated to the financing of the development phase of at least 2 GW of projects using IDEOL’s patented Damping Pool technology.
In order to take full advantage of such unique pioneering opportunities, JERA, ADEME INVESTISSEMENT and IDEOL intend to join forces by establishing an investment vehicle to finance the development phase of several floating offshore wind projects across the globe during the next 5 years, each time centered around IDEOL’s high-local content and highly competitive technology.