Offshore wind farms in Japan turn viable with new law

Orix, Tepco and Germany's E.ON lead entry into untapped sector

Offshore wind power, such as E.ON's Rodsand II project seen here off Danish shores, has taken off in Europe because of an abundance of suitable coastal areas. (Photo courtesy of the company)

YUKINORI HANADA and NANA SHIBATA, Nikkei staff writers

February 14, 2019 06:52 JST

TOKYO -- Japan's offshore wind farm market is set to gain momentum, with legal safeguards and subsidies helping to draw domestic and international participants amid a shift away from fossil fuels.

Japanese leasing company Orix and Tokyo Electric Power Co. Holdings, as well as E.ON -- Germany's largest power provider -- are among those planning to establish wind farms offshore.