Japanese companies invest $1.5B in offshore wind

Source: E&E • Posted: Wednesday, September 5, 2012

Hitachi Zosen Corp., Toshiba Corp., JFE Steel Corp. and three other companies have teamed up to invest about $1.53 billion over a decade in offshore wind projects, according to a Japanese newspaper.

The project is expected to produce 300,000 kilowatts of energy and could be located off the southern Japanese coast, the Nikkei newspaper reported.

The other companies involved are Toa Corp., Toyo Construction Co. Ltd. and Sumitomo Electric Industries Ltd.

Japan could eventually build 1,600 gigawatts of offshore wind power capacity, according to Japan’s environment ministry estimates (Swetha Gopinath, Reuters, Sept. 3)