"Besides, it highlights the role played by such renewable energy technologies in locations that are highly susceptible to develop nuclear power plants. This project, once commissioned has the potential to push Japan as one of the leading wind power markets in the Asia Pacific region," she added.
's government commitment and support has played a crucial role to propel the offshore wind power industry as this ambitious project - off the coast of Fukushima - is estimated to have very high construction cost. The feed-in-tariff system introduced in
requires utilities to purchase electricity produced from offshore wind farms at up to
per kWh which is not only twice the rate of onshore wind farms but also considered to be the highest in the world.
A lull in the country's onshore wind power market during the recent years had driven some Japanese wind turbine manufacturers to focus on overseas European and US markets. However, this scenario is likely to change because of growing interest in developing offshore wind farms in
. This is expected to attract not only home-grown engineering and construction companies but also global wind turbine manufacturers to re-enter
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?