Japan, USA partner to cut floating offshore wind costs

The governments of Japan and the USA have agreed to co-operate on reducing the cost of floating offshore wind projects, Reuters reported on Thursday.

The two countries will collaborate on advancing floating wind engineering and manufacturing.

The agreement will also see Japan put USD 784 million into its Green Innovation Fund to develop floating wind technology.

The US government made the announcement during Japanese Prime Minister Fumio Kishida’s visit to Washington to meet with US President Joe Biden.

The issue of cost has dogged the floating offshore wind segment, prompting companies including Iberdrola and Orsted to drop out of projects in USA in the past year.

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