Ocean wind energy in Japan
© GettyImagesThe offshore wind venture in Japan is part of Innovation Norway's program for targeted export ventures for Norwegian business, called High Potential Opportunities (HPO). The HPO program is ment for larger investments towards markets where there are concrete opportunities for Norwegian exports. The goal is to help Norwegian companies to win large international commercial contracts.
12 Norwegian companies and 3 clusters have so far expressed their interest in participating in the HPO initiative in Japan. The background for the investment is Japan's ambition to develop and install 35-45 GW of energy from offshore wind by 2040. In the initial phase, bottom-fixed installations are most relevant, but the overall ambition for the offshore wind investment will also largely require floating offshore wind installations.
Norwegian companies have advantages
Experience from the oil and gas sector gives Norwegian companies an advantage in the development of offshore wind solutions, especially floating offshore wind installations in deep water. Japan itself does not have a strong oil and gas industry. In order to carry out the planned development, the Japanese companies are looking for experienced partners, especially from Europe. The Norwegian companies compete there with companies from, among others, the Netherlands, Denmark, Great Britain, France, Germany and Spain.
The advantage of the Norwegian companies is primarily linked to the market for floating installations, particularly in deep water. The floating part of offshore wind development in Japan is estimated to follow from 2025, and this opens opportunities for exporting Norwegian technology to Japan.
The challenge is that the Japanese market is considered highly dominated by its own national industry, and that it is therefore difficult for foreign suppliers to penetrate. Nevertheless, some Norwegian companies have managed to secure contracts with Japanese suppliers in the development of permanent offshore wind installations.
The main task for the HPO venture in Japan going forward will be to build a Norwegian brand and highlight the Norwegian actors as experienced, competent, competitive and long-term partners.
Team Norway
The HPO ventures are earmarked larger ventures towards markets where there are concrete opportunities for Norwegian exports. The Norwegian companies participating in the initiative will receive comprehensive and coordinated support and follow-up from Innovation Norway and Team Norway, which means from the entire Norwegian governmental business support system.
Through the HPO initiative, the Norwegian participating companies will receive support from Innovation Norway's offices both regionally in Norway and internationally, the Norwegian embassies, Export Finance Norway (Eksfin), Norwep, relevant chambers of commerce, relevant clusters and other partners. Team Norway contributes with a tailored package of services, based on the opportunities in the market and the needs of business. The activities range from political dialogue, financing, networking and marketing, to individual advice for individual companies in the markets.
