In December 2021, consortia led by Mitsubishi Corporation won the rights to develop all three projects offered in Japan’s first major offshore wind public auction with an aggregate capacity of approximately 1.7 gigawatts (GW). Mitsubishi’s success was underpinned by tariff prices well below the ceiling price of 29 yen per kilowatt-hour. This auction result is likely to have led to concerns amongst international developers regarding the low tariff pricing. Media reporting also suggests criticism from businesses about the lack of clarity around the bid process.
Winds of Change: Proposed Revisions to Japan’s Offshore Wind Public Auction Process
