Japan Offshore Wind market update

Wind energy

Webinar 25 May 2021, Oslo 09:00 -10:30 / Tokyo 16:00 - 17:30

Market: Japan

Info

On the 25th of May, Norwegian Energy Partners, Norwegian Offshore Wind Cluster and Innovation Norway co-organized a webinar to help Norwegian offshore wind suppliers better understand the Japanese government’s strategy, on-going auction, the development of an offshore wind industry in Japan and the opportunities arising in the market.

Attendees learned about the latest developments in the offshore wind industry in Japan. Ms. Kikushi of the Ministry of Trade and Industry explained the 1 GW a year licencing plan to 10 GW licenced by 2030. Total government target is 30-45 GW installed by 2040. This was followed up by comments from Mr. Ueda from the JWPA on the development of a Japanese offshore wind supply chain and practical insights from Mr. Ushida of DNV and Mr. Stoltenberg of Equinor.

In addition to the licencing policy, a key takeaway from the meeting was the government and industry agreement to seek a 60% Japanese content in construction until 2040 at a lower cost of 8-9 JPY/KWh (54-60 GBP/MWh). To achieve this, the Japanese industry must learn from global players and need partnerships also to expand to the rest of Asia. A number of industrial partnerships are already formed in various parts of the value chain. JETRO is matching international suppliers with Japanese industry and innovative international partners are sought.

NORWEP and its collaboration partners are planning further Norwegian supply chain and client meetings for Japan throughout this autumn. Stay tuned!