Japan poised to sweeten offshore wind rules as players get cold feet

Japan's Offshore Wind Ambitions: Japan is looking to enhance incentives for developers in its offshore wind sector, aiming for 45 gigawatts of capacity by 2040 to reduce reliance on imported fossil fuels and lower carbon emissions, despite facing project delays and rising costs.

Industry Challenges and Government Response: Major companies like Mitsubishi and Shell are scaling back their offshore wind operations due to financial losses and project delays, prompting the Japanese government to consider extending project durations, revising tariff systems, and providing tax relief to encourage investment in renewable energy.