Japan to Raise Offshore Wind Procurement Target to 70% by 2040

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Japan is reportedly planning to increase its domestic procurement goal for offshore wind farms to approximately 70% by 2040, up from the current 60%, as part of efforts to strengthen its local supply chain with foreign investment. The new target is set to be finalized by the summer, with an expert panel scheduled to begin discussions later this month to evaluate the procurement goal and determine the necessary support measures, according to Nikkei.

Currently, Japan lacks manufacturers and relies heavily on imports for core components, with domestic companies primarily involved in areas such as installation and operation. Green Power Investments' , which began operations off Japan's northern island of Hokkaido in January 2024, was the first project to meet the existing 60% local procurement threshold.

To achieve the new 70% target, Japan will need Western suppliers to establish factories in the country and for Japanese companies to have the capacity to provide the required parts and materials. Japan has set a goal to install 10GW of offshore wind capacity by 2030, with a long-term target of 30 to 45GW by 2040.

The expert panel will also set a target for deploying floating wind turbine platforms by 2040. These platforms are considered better suited for the deep waters surrounding much of Japan's coastline.

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