Japan has designated eleven potential areas as suitable for the development of offshore wind farms. The areas have been identified jointly by the Ministry of Economy, Trade and Industry, the Ministry of Land, Infrastructure, Transport and Tourism, and the Port Authority of Japan.
Shizen Energy, Japanese solar power company signed an agreement with Ideol, a French wind developer, collaborating on a full size floating wind farm off the coast of Japan. This partnership coincides with recent senior recruitments to shore up its local sales and engineering subsidiary.
Offshore renewables in Japan are set to receive an important boost after the country passed a bill last November, which enables wind farms to operate inside national territorial waters for the next 30 years. Offshore wind farms are expected to advance because of various factors, mostly via technological developments in floating wind turbines.
Japanese Utility Tohoku Electric Power (TEP) has invested in the Akita Yurihonjo offshore wind project in Japan. The project is scheduled to have a power generating capacity of approximately 700MW, making it one of the largest offshore wind farms in Japan. The leader of the offshore project is Renova.
Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Development Bank of Japan have established their first fund through Spring Infrastructure Capital, a fund management company jointly established by the three companies. The Fund raises money from Japanese investors and finances and invests in offshore wind power projects overseas.
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