"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.Japan'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 July 2012 requires utilities to purchase electricity produced from offshore wind farms at up to Y42 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 Japan. This is expected to attract not only home-grown engineering and construction companies but also global wind turbine manufacturers to re-enter Japan. 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.
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