Japan approves installation of offshore wind power in exclusive economic zones
![Japan approves installation of offshore wind power in exclusive economic zones](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/03/2148907403.jpg)
On Tuesday, Japan’s government greenlit a proposed amendment to current laws, enabling the establishment of offshore wind power within exclusive economic zones (EEZ).
This is a significant step toward achieving the country’s carbon neutrality objective by 2050.
Also read: GE’s energy spin-off expects offshore wind boost
Japan targets the development of 10 gigawatts (GW) of offshore wind power projects by 2030 and aims for up to 45 GW by 2040.
This initiative seeks to supplant fossil fuels such as coal and liquefied natural gas (LNG) in Japan’s energy portfolio, with floating offshore wind playing a crucial role.
Also read: US Forged Rings Inc. announces $700M investment in US offshore wind industry
At present, Japan has installed less than 0.5 GW of offshore wind power and is in the process of developing a handful of floating offshore wind farms, primarily for demonstration purposes.
Stakeholders in the industry are closely monitoring the EEZ legislation, as it is pivotal for facilitating the development of floating offshore wind and integrating it into state auctions.
Notably, all three major rounds of auctions thus far have focused on bottom-fixed installations.
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