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By Aya Takada (Bloomberg)
Japan will aim to more than quadruple offshore wind generation capacity in the decade to 2040 under plans to meet its mid-century emissions reduction target.
The government will seek to lift offshore wind capacity to as much as 45 gigawatts in 2040 from 10 gigawatts in 2030, the Ministry of Economy, Trade and Industry said Tuesday in a statement. Reaching that goal will require a vast expansion of a sector that has current capacity of about 20 megawatts.
“Offshore wind holds the key,” for Japan’s efforts to curb emissions and the government intends to use some of a proposed 2 trillion yen ($19.2 billion) green technologies fund to stimulate innovation in the sector, Economy Minister Hiroshi Kajiyama said in Tokyo. “We expect to attract investment from companies in and out of Japan to create a new industry,” he said. ....

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