Japan is focusing on developing renewable energy in order to fill the void left by nuclear power following the Fukushima disaster in 2011. Its original plan was to reduce greenhouse gas emissions to 25% below 1990 levels by 2020. However, this was amended in November 2013 to 3.8% below 2005 levels by 2020, leading to pressure from the international community to announce its post-2020 aim. The outcome was a new target of 26% below 2013 levels by 2030, altering the benchmark year from 1990 to 2013. This target is considered low by countries worldwide, and has increased doubt over Japan’s readiness to tackle climate change.
Nevertheless, renewable energy is set to grow with government support in the form of Feed-in Tariffs (FiT). Japan’s Ministry of Economy, Trade and Industry (METI) introduced FiT rates in 2011, and the bill was passed and approved on August 26, 2011. Changes were made to the FiT levels in subsequent years.
Japan has good potential for offshore wind power development, and the sector saw seven deals between Q1 2014 and Q1 2015 period with a total value of $2 billion as of Q1 2015 and $2.7 billion in 2014. A total of 30 wind power plants are expected to come online in the near future, most of which are in the announced stage of development.
The report includes wind power capacity, generation, regulatory framework, upcoming projects and major deals.
Reasons to buy
The report gives an overview of the country's wind energy sector.
Helps in understanding the growth trajectory of wind power in the country
Gain insights into the country's wind power policies and regulations
Identify investment opportunities through upcoming wind energy projects
Identify major deals and investments made in the wind energy sector during 2014-2015