Mitsubishi Halts Offshore Wind Projects in Japan

30 Aug 2025 CW Team

Mitsubishi Corporation (MC) has announced its decision to withdraw from three major offshore wind projects off the coast of Japan due to a significant shift in global business conditions. The projects were being developed through a consortium led by its subsidiary, Mitsubishi Corporation Offshore Wind Ltd., and were located off the shores of Noshiro City, Mitane Town, and Oga City in Akita Prefecture; Yurihonjo City in Akita Prefecture; and Choshi City in Chiba Prefecture.

The company stated that following a review initiated in February 2025, it concluded the projects were no longer viable. The reassessment was triggered by considerable and unforeseen changes in the offshore wind sector, which have emerged globally in the wake of the COVID-19 pandemic and the war in Ukraine. These include tightened supply chains, surging inflation, unfavourable exchange rate fluctuations, and rising interest rates—factors that have collectively undermined the financial feasibility of the projects.

Since being selected to operate the projects in December 2021, Mitsubishi and its consortium partners have explored multiple avenues to adapt to the shifting landscape. This included a detailed re-evaluation of costs, scheduling, and potential revenue. However, after extensive deliberations, the consortium concluded that establishing a viable business plan under current market conditions was not possible.

The company clarified that most of the associated losses have already been recognised in previous financial years, and any further financial impact is expected to be minimal.

Despite the setback, MC reaffirmed its commitment to renewable energy and its broader role in Japan’s decarbonisation efforts. The company reiterated that offshore wind remains a crucial part of the nation’s future energy mix and expressed intent to continue supporting clean energy initiatives while monitoring global and domestic developments in the sector.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..