Japanese trading company Sojitz canceled its plan to build a wind power plant in Hokkaido, amid soaring material costs and growing local criticism about the environmental impact of the project.
“After re-examining the business plan from various perspectives, including the recent sharp rise in material prices, we have concluded that this project does not meet Sojitz’s investment criteria,” the company in a statement on Saturday.
The decision adds to a recent trend of wind project cancellations, creating a headache for the Japanese government, which is seeking to significantly increase green energy production, particularly in Hokkaido.
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