Wind power players asking Japan to scale up offshore auctions

Cautious approach: Japan needs about US$18bil to develop offshore wind farms by 2030, including already invested funds, and US$250bil by 2050. —Reuters

INTERNATIONAL energy companies, from Germany’s RWE to Spain’s Iberdrola, are urging Japan to beef up offshore wind power auctions and make investments more attractive, amid soaring installation costs as competition for suppliers grows worldwide.

Although desperate to ease its heavy dependence on energy imports from the Middle East and Russia, Japan is coming late to offshore wind, but some industry players say it is taking a more cautious approach that puts it at a disadvantage.