Tepco Renewable Power Inc. is trying to become more competitive in bidding for offshore wind projects after losing out to consortia led by Mitsubishi Corp. in the inaugural round of Japanese government-run auctions.
Japan is aiming to award 10 gigawatts of offshore wind capacity by the end of the decade, spurring a contest for the contracts to build the projects. The Mitsubishi-led grouping made a clean sweep of the first three tenders — with a combined capacity of around 1.7 gigawatts — allocated in December.
The renewables unit of Tokyo Electric Power Company Holdings Inc., Japan’s biggest utility, will continue to work with current partners — including Danish company Orsted AS — for the next round of bidding, according to Tepco Renewable President Masashi Nagasawa.