Japan’s Green Energy Failures Serve as a Warning to the US: Don’t Fall for the Climate Agenda
22 hours ago Guest Blogger
by Yoshihiro Muronaka
In August 2025, Japanese media revealed that Mitsubishi Corporation was preparing to withdraw from three offshore wind projects off the coasts of Chiba and Akita prefectures. In 2021, Mitsubishi had won these sites with remarkably low bids of 8-11 cents/kilowatt-hour (kWh), hailed as proof of Japan’s corporate strength and renewable ambition.
But reality was harsh. Costs for steel, turbines, and logistics surged. The yen weakened, interest rates rose, and certification processes faced delays. By 2025, Mitsubishi had already booked over $350 million in impairment losses, with more likely if the projects continued. The retreat is not just a corporate failure; it exposes apparent self-contradictions in Japan’s energy policy.
Across the Atlantic, offshore facilities have faced similar headwinds. On the U.S. East Coast, Ørsted cancelled two large projects in New Jersey, absorbing billions in losses. BP and Equinor abandoned contracts in New York after costs rose by 40% beyond estimates. In some cases, companies chose to pay hefty penalties rather than commit to losing ventures.
Europe, the pioneer of offshore wind, has also stumbled. In the U.K., Vattenfall halted its Norfolk Boreas project citing a 40% cost increase. Even Denmark, often celebrated as a leader, has delayed new tenders.
https://wattsupwiththat.com/2025/10/07/japans-green-energy-failures-serve-as-a-warning-to-the-us-dont-fall-for-the-climate-agenda/
