(Bloomberg) -- Tokyo Gas Co. plans to develop one of Japan's largest offshore wind projects as the nation looks to a major expansion of the technology to achieve net-zero emissions by 2050.
The 600-megawatt facility -- about 30 times larger than the nation's existing capacity -- is planned to be built off the coast of Chiba prefecture, east of Tokyo, if it gains approval from the government, a company spokesman said on Wednesday. Tokyo Gas joined a consortium with Shizen Energy Inc. and Canada's Northland Power Inc. in order to develop the project.
Offshore wind developments are key to Prime Minister Yoshihide Suga's pledge for Japan to become emissions neutral by the middle of the century, and the government has thrown its support behind developing a number of offshore blocks. Tokyo Gas is one of just a handful of Japanese utilities that have committed to a net-zero emissions target.
To read more on Japan's pledge to cut emissions, click here
Capacity in offshore wind in Japan may reach 10 gigawatts by 2030 and 30 gigawatts by 2040, according to the Ministry of Economy, Trade and Industry. The nation currently has just 20 megawatts of capacity.
Japan's industry and land ministries will create rules to make it easier for private companies to invest in renewable energy with an aim to have offshore wind farms in 30 locations across the nation in 10 years, the Nikkei reported in July.
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