TOKYO -- Japanese oil refiner Cosmo Energy Holdings's renewable energy ambitions met with a cold gust of reality when it lost a bid for an offshore wind project last year. Now, the company needs to prove it has cost competitiveness to reach a goal of quintupling its wind power capacity in less than a decade.
A consortium with partners including Japanese renewable energy company Renova and Tohoku Electric Power was outbid for a project off the coast of Akita Prefecture in northern Japan to a group led by Mitsubishi Corp.
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