Japan and Denmark have agreed to work together on researching and developing floating offshore wind power technologies in a bid to combat climate change, Japan's trade and industry ministry has said.

The nascent floating offshore wind industry is poised for explosive growth in the coming decade as countries strive to cut their carbon emissions.

A letter of intent was signed by Japan's agency for natural resources and energy and the Danish ministry of climate, energy and utilities late Tuesday, Japan's ministry said in a statement.

The two countries plan to create a framework to support their cooperation within industry, regulatory bodies and academia. They also plan to invite other interested countries to join the framework, the ministry said.

They will also likely discuss spearheading the creation of de facto global standards for the industry, a ministry official added.

Japan aims to have 10 gigawatt (GW) of offshore wind power, including bottom-fixed and floating wind power, by 2030 and up to 45 GW by 2040. It wants renewables to provide 36% to 38% of its electricity mix by the end of this decade, from around 20% now, and has targeted becoming carbon neutral by 2050.

Japan is also working on delivering a road map for floating offshore wind power by the end of March 2024.

Separately, Japan's trade and industry ministry said it has signed a memorandum of understanding with the Danish energy ministry to develop a sustainable and affordable supply chain for hydrogen and ammonia.