METI sets target of 15 million kW for floating offshore wind by 2040

The Agency for Natural Resources and Energy (ANRE) of the Ministry of Economy, Trade and Industry (METI) have set a policy for floating offshore wind power to contribute more than 15 million kW to the national target of 30 to 45 million kW of offshore wind projects to be developed domestically by 2040. This policy was presented in the “Second Offshore Wind Power Industry Vision,” finalized on August 8. As with the current public tenders, which mainly cover fixed-bottom systems, the government also plans to solicit business operators for floating projects in designated sea areas, with the aim of launching projects by FY 2029.

The government is utilizing 123.5 billion yen from the Green Innovation (GI) Fund to support the development of component technologies such as turbine foundations, maintenance, and electrical systems, as well as demonstration projects for floating systems in two offshore areas near Akita and Aichi. Both projects are scheduled to continue until fiscal 2030, and the tender process for floating offshore wind is also expected to begin around that time.

The new vision also establishes targets for Japanese participation in overseas floating offshore wind projects. The total capacity of such projects is to be increased to 30 million kW by 2040.

In addition, the vision emphasizes economic and energy security. The domestic procurement ratio, including components, will be raised to 65%, five percentage points higher compared with the First Vision, with the aim of localizing core turbine components such as nacelles and blades. Measures to attract major overseas turbine manufacturers to set up factories in Japan will also be explored, including the possible use of government subsidies.