Japan suggests extending offshore wind farm leases by 10 years to alleviate financial burdens.

Proposed Lease Extension: Japan's industry and land ministries have proposed extending offshore wind project leases by 10 years, from 30 to 40 years, to help developers manage rising construction costs.

Operational Guidelines Revision: The revision would allow operators to renew their permits under certain conditions, addressing the current requirement to remove facilities after 30 years, which limits actual operational time to about 20 years.

Government Goals: The Japanese government aims for 45 gigawatts of offshore wind capacity by 2040 to reduce reliance on imported energy and cut carbon emissions, but progress has stalled due to high costs and delays.

Industry Concerns: Despite the proposed lease extension, a consortium led by Mitsubishi Corp is reportedly preparing to withdraw from three offshore wind projects due to concerns over profitability.