1. Japan commits Y120bn to advance floating wind technology.
2. Japan partners with the US to reduce costs of offshore floating wind projects.
3. US and Japan collaborate to accelerate advancements in engineering and manufacturing for floating wind farms.
Japan has committed Y120bn ($784m) to advance floating wind technology in partnership with the US. This collaboration aims to reduce costs associated with offshore floating wind projects. The two nations will focus on advancements in engineering and manufacturing crucial to the development of floating wind farms. The US Floating Offshore Wind Shot initiative includes a goal to reduce the cost of installations by over 70% in the next ten years.
The US has set an ambitious target to install 15GW of floating offshore wind capacity by 2035, supplying electricity to millions of homes. In Japan, the focus on floating offshore wind technology is new, with previous auctions focusing on bottom-fixed structures. A consortium of Japanese energy companies is working together to develop floating offshore wind technology. Japan aims to become a leading offshore wind power producer, with government targets of 10GW by 2030 and up to 45GW by 2040.
The Floating Offshore Wind Technology Research Association in Japan aims to lower costs and facilitate mass production of floating offshore wind through collaboration with academic institutions. The partnership between Japan and the US is a significant step in advancing renewable energy technologies to combat climate change and reduce reliance on fossil fuels.