The withdrawal from three offshore wind-power projects by Japan’s Mitsubishi Corporation comes as a blow to the energy-import reliant nation’s plan to expand renewable energy production, just as similar projects face setbacks worldwide.
While some worry that the retreat by Japan’s largest trading house could trigger a domino effect that leads other operators to drop out, Mitsubishi Corporation’s case might be unique, and the implications might be limited, some researchers argue.
On Wednesday, Mitsubishi Corporation announced it would terminate operations in three offshore areas, citing unexpected costs in a changing economic environment.
