On December 20, 2018, the New Energy and Industrial Technology Development Organization (NEDO) announced that it will begin a demonstration test for a Floating Offshore Wind Power Generation System, aiming to reduce the generation cost to approximately 20 yen / kWh (approximately $185 / MWh[1]) or less in 2030. The project will adopt advanced components, such as a single buoy turret mooring system, which will reduce the weight of the system and the cost of power generation. Several partners will join the project, including Toyota Tsusho, a trading company under Toyota Group, Glocal, a management consulting firm, Teraoka, a shipbuilding company that recently started a solar power installation business, the University of Tokyo, Kyushu University, and the National Institute of Maritime, Port, and Aviation Technology.

For the feasibility study of the project, NEDO will conduct research on basic designs that are suitable for the selected demonstration site, marine area survey, and preliminary consultation. The results of the feasibility study will be reviewed by outside experts. If the system is determined to be feasible and viable, NEDO will then build the generation system and will conduct a demonstration test for more than one year in actual sea areas to verify the system’s performance and cost. The project period is from FY2018 to FY2022. NEDO has been developing component technologies to lower the cost of floating systems since FY2016.

[1] Exchange rate as of January 14th, 2019.