Mitsubishi has denied reports it is poised to pull out of three separate Japanese Round 1 offshore wind projects.
In a statement the company acknowledged media reports that it claim it will abandon the 891MW Yurihonjo, 478.8MW Noshiro Mitane Oga, both off Akita prefecture, and the 390.6MW Choshi City projects off the coast of Chiba prefecture.
“However, this has not been announced by our company, and no decision has been made at this time,” the developer said.
Mitsubishi announced a review of its business plans for Japanese offshore wind development in February, citing global economic factors like inflation, tight supply chains, the depreciation of the yen, and rising interest rates.
Mitsubishi-led consortiums were selected by Japanese authorities in Japan’s first auction for fixed bottom projects back in 2021.