Japan Offshore Renewable Project UpdateFinance Law Newsletter
In order to meet its 2015 Energy Plan, the Japanese Government is continuing to develop and implement legislation designed to encourage the development of renewable energy projects. In this newsletter, we focus on recent developments and trends with respect to the Japanese offshore wind regulatory regime. This newsletter discusses and summarizes the amended offshore regulatory regime to be introduced by The Act on Promotion of Use of Marine Areas for Development of Marine Renewable Energy Generation Facilities (the “Act”), which the Japanese government hopes will streamline and encourage the development of offshore wind projects in Japan. In addition, this newsletter considers some of the key issues not fully addressed by the Act and the future outlook of the Japanese offshore renewable energy market.