Japan Pledges EUR 57 Mln for Offshore Wind

Japanese government, led by Prime Minister Abe Shinzo, has pledged to increase its efforts to promote renewable energy in the next fiscal year after feed-in tariff system, aimed to boost renewable energy generation, faced some problems, Japanese media reported.

The Abe administration has allocated in total EUR 0.94 billion (JPY 130.7 billion) for renewables, out of which EUR 57 million (JPY 7.9 billion) will be used for offshore wind energy development.

The move to boost renewables follows the Fukushima nuclear disaster.

The feed-in tariff scheme, guaranteeing higher rates for selling renewable energy, encountered issues after energy suppliers swamped the solar market, resulting in some companies refusing to buy the power.