Japan's giant trading houses lured by untapped offshore wind potential

Mitsui for instance bought 20% stake in a 300MW offshore project.

Bloomberg reported that untapped offshore wind is luring Japan’s biggest commodity houses to invest in projects in Taiwan and at home, buoyed by favorable government policies that support development of the clean power.

Mitsui & Co. this month bought a stake in the Taiwanese wind developer Yushan Energy Co. that gives the Tokyo-based company a 20 percent stake in a 300-megawatt offshore project that may cost $1.8 billion to develop. Mitsubishi Corp. is working with partners to build a separate windmill venture off Taiwan’s coast and Marubeni Corp. is developing two offshore projects in the northern Japanese prefecture of Akita.

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