Mitsubishi to pull out of three offshore wind projects in Japan

In February, Mitsubishi said it was reviewing how to proceed with its offshore wind projects in Japan given a “significantly changed” business environment, showing Japan’s vulnerability to rising costs across offshore wind projects globally.

Earlier this year, METI acknowledged the renewable energy rollouts could be behind the schedule, predicting that Japan’s demand for LNG could be on the rise again as artificial intelligence booms, after years of decline.

(Reporting by Yuka Obayashi and Katya Golubkova Additional reporting by Satoshi Sugiyama and Kaori Kaneko; Editing by Susan Fenton, Louise Heavens, Aidan Lewis)