US EditionJapan confident on wind power after Mitsubishi blow
Mitsubishi Corporation cited a $354 million impairment loss and cost increases from supply chain and inflation pressures as reasons for pulling out of offshore wind projects.
- Mitsubishi is considering withdrawing from three offshore wind power projects in Japan due to rising costs and interest rates.
- The three wind farms have a projected capacity of 1.76 gigawatts and were expected to start operations in 2028-2030.
- Japan is targeting future offshore wind farm capacity of 10 GW by 2030 and 45 GW by 2040.
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60 Articles
Japan optimistic about wind power after Mitsubishi pulls out of 3 projects
Japan remains optimistic about the adoption of renewable energy despite Mitsubishi pulling out of three big offshore wind projects, the government said Thursday. Blaming high costs, Mitsubishi said Wednesday it was exiting the projects, which planned 134 turbines to generate power for more than a million homes. "The government regards…
Daily Journal
Japan confident on wind power after Mitsubishi blow
Japan remains optimistic about the adoption of renewable energy despite Mitsubishi pulling out of three big offshore wind projects, the government said Thursday.
Mitsubishi Abandons Three Offshore Wind Projects in Japan
Mitsubishi Corporation is dropping plans to develop three offshore wind projects in Japan amid unexpected changes and rising challenges in the market, the Japanese conglomerate said on Wednesday. In February this year, Mitsubishi said it is reviewing its business plans for Japanese offshore wind power generation projects “due to material changes in the macroeconomic environment.” In December 2021, Mitsubishi won in a Japanese auction projects …
[NHK] Major trading company Mitsubishi Corporation has officially announced that it will withdraw from plans to build offshore wind power plants off the coast of Akita and Chiba prefectures due to significant increases in costs.
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