Japan plans to install up to 45 GW of offshore wind power by 2040- Reuters

As reported by Reuters, Japan plans to install up to 45 gigawatts (GW) of offshore wind power by 2040, the country’s industry ministry said on Wednesday, as the government aims to reduce emissions and meet the goal of achieving carbon neutrality by 2050.

The plans, if met, would make Japan a world leader in offshore wind. They create targets for offshore wind capacity over the next two decades, which could spur further investment in the sector.

“It is important for the government to commit itself to creating an attractive domestic market and to stimulate domestic and foreign investment,” Industry Minister Hiroshi Kajiyama told a meeting of government officials and private companies, according to a ministry statement.

The government passed legislation in 2018 designed to promote the development of offshore wind, but no major projects have been approved since then and some industry participants say the rules for investment and regulations are too complicated.

The government is now targeting 10 GW of offshore wind capacity by 2030 and between 35 GW and 45 GW by 2040, the ministry said.

It expects the cost of electricity from offshore wind projects to be between 8 and 9 yen (7.7 to 8.7 cents) per kilowatt hour over a 30 to 35 year period.

The government plans to participate from the project planning stages and a demonstration project will begin next year, he said. The government will also require that national supplier teams represent 60% of a project.

Prime Minister Yoshihide Suga said in October that Japan, the world’s fifth-largest emitter of greenhouse gases, would aim for carbon neutrality by 2050, in a major change of position.