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Equinor to Exit Japanese Offshore Wind Market to Focus on Integrated Power Strategies

Yahoo Finance ·
EQNR
Equinor to Exit Japanese Offshore Wind Market to Focus on Integrated Power Strategies
  • Equinor announced it will close its Tokyo office by the end of 2026, marking a full exit from Japan's offshore wind sector.
  • The decision follows a series of auction losses for Equinor in Japan, where it had previously partnered with Jera and J-Power.
  • The broader Japanese offshore wind industry has faced significant headwinds, including the withdrawal of major projects by Mitsubishi Corporation due to inflation and supply chain constraints.

Quotes

“This decision reflects a reassessment of Equinor's strategic direction, with a strengthened focus on integrated power markets”— Equinor
“has significantly changed worldwide due to factors such as tight supply chains, inflation, exchange rates, and rising interest rates”— Mitsubishi Corporation

Sources