As of August 27, 2025, Mitsubishi Corporation announced that, after reviewing business plans for three offshore wind projects in three coastal areas of Japan, it has decided not to proceed with development. [1] The withdrawal stems from concerns over profitability, as well as the business environment for offshore wind power. The release cites the pandemic and the “Ukraine crisis,” which have resulted in tight supply chains, inflation, fluctuating exchange rates, and rising interest rates. In 2021, projects were set to be operated in the Akita and Chiba prefectures, with a total projected capacity of 1.76 GW to be launched by 2030. Mitsubishi emphasizes that it continues to recognize offshore wind as an essential element of Japan’s energy mix. Of the three offshore wind auctions held in Japan, Mitsubishi-led groups won the first for the projects in Akita and Chiba.

[1] https://www.mitsubishicorp.com/jp/en/news/release/2025/20250827002.html