We are excited to partner with the Renewable Energy Institute to advance offshore wind in Japan through a cost study of fixed-bottom offshore wind and its cost-out potential to 2040.
Our joint work aims to:
🔹Clarify the current cost gap between Japan and Europe for fixed-bottom offshore wind,
🔹Identify the main drivers of this cost gap by offshore wind component,
🔹And demonstrate whether Japan’s higher costs are reducible through regulatory rationalization, market expansion, and supply-chain development.
Japan is poised to become an important offshore wind market in the coming decades. Fixed and floating offshore wind build-out is expected to grow steadily after 2030 to around 14 GW by 2040, according to Aegir Insights’ Market Forecast, making it the second-largest installed capacity in Asia-Pacific after South Korea.
Following Mitsubishi’s withdrawal from its Round 1 auction projects a few months ago, the Japanese government has recently proposed policy changes to improve the business case for the Round 2 and 3 winning projects and help ensure project completion. The package also includes further reforms for future auction rounds, signaling a willingness to support an offshore wind sector under pressure.
Aegir Insights’ clients can get a detailed overview of the Japanese offshore wind market in our new Japan Market Playbook on the Aegir Platform (accessible here).
Reach out to us here to explore how we can help you navigate Japan’s offshore wind opportunities.
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