Mitsubishi Corporation (Mitsubishi) is reassessing its business plans for offshore wind projects in Japan due to significant changes in the macroeconomic environment. The projects, developed by a consortium led by its subsidiary Mitsubishi Corporation Offshore Wind Ltd., are located in three areas: Noshiro, Mitane, and Oga in Akita Prefecture; Yurihonjo in Akita Prefecture; and Choshi in Chiba Prefecture.
Since being selected as the operator in December 2021, Mitsubishi has made progress in project development in collaboration with stakeholders. However, global economic shifts—including inflation, yen depreciation, supply chain constraints, and rising interest rates—have impacted the offshore wind sector. In response, Mitsubishi is reviewing its plans and will determine the next steps based on the findings.
Offshore wind remains a key energy source for Japan, where energy self-sufficiency is low. Mitsubishi continues to support the transition to a carbon-neutral society through its offshore wind projects.
