Business Overview
Cosmo Eco Power, a Group company, spearheads our Renewable Energy Business as a pioneer in wind power generation in Japan. Since its founding in 1997, the company has been working to build a system capable of developing wind power generation sites and designing, constructing, operating, and maintaining wind power plants in an integrated manner. Taking advantage of this strength, we are working to expand our onshore wind power generation business further while actively engaging in offshore wind power generation projects.
Business Strategy
With the Japanese government laying out a policy of expanding wind power generation as much as possible to achieve carbon neutrality by 2050, a large-scale market is expected to emerge in the future due to the easing of various regulations and the establishment of new laws. As a company specialized in wind power generation, Cosmo Eco Power boasts the third largest share of the domestic onshore wind power generation market. We are striving to expand our business further by leveraging our expertise built up in this field to date in offshore wind power generation as well.
We are steadily building up our installed capacity toward our target of over 1.5 gigawatts (GW) by FY2030. Key milestones include the commencement of commercial operations at the Shin-Iwaya Wind Park in March 2025 and the New-Mutsu-Ogawara Wind Farm in July 2025.
Identified Risks
- Changes in government policies and systems related to renewable energy
- Decline in profitability resulting from intensified competition
- The domestic offshore wind power generation industry is still in its early stages and has not yet matured
- Decline in profitability due to fluctuations in prices of raw materials and supplies
Opportunities
- Renewable energy will become a primary power source as the world strives to achieve carbon neutrality by 2050
- Government-led promotion of wind power generation (including power grid development, changing rules on power feeding, and the easing of regulations)
- Diversification of electricity customers due to the transition from the FIT scheme to the FIP scheme
- Expansion of the onshore wind power market (expected total capacity in 2030: 15.9 GW*1)
- Expansion of the offshore wind power market (establishing projects with a total capacity of 10 GW by 2030 and 30 GW to 45 GW, including floating wind turbines, by 2040*2)
*1 Source: Ministry of Economy, Trade and Industry, Energy Supply and Demand Outlook for FY2030 (Related Documents), October 2021
*2 Source: Public-Private Council on Enhancement of Industrial Competitiveness for Offshore Wind Power Generation, Overview of the Vision for Offshore Wind Power Industry (1st), December 2020
Strengths
- Industry-leading utilization rate, primarily as a result of strong in-house technical capabilities in wind turbine maintenance and the installation of failure prediction systems
Offshore
- Commenced commercial operations of offshore wind farms in Akita Prefecture
In an offshore wind project, in which Cosmo Eco Power is the largest equity investor, we have partnered with Iberdrola*, the world’s largest operator of wind power generation facilities. Through this, we are striving to improve business viability and increase our competitiveness by acquiring expertise from our overseas partner.
*Leading Spanish power company with one of the largest wind power generation facilities in the world.
The Cosmo Energy Group will achieve installed capacity of more than 1.5 GW, including at both onshore and offshore plants, by 2030, aiming to be the leading company in wind power generation. In onshore wind power generation, we are developing and operating wind farms across Japan, providing a stable supply of electricity backed by many years of operational experience. We are also advancing multiple offshore wind power development projects, steadily working toward commercialization.
Aiming to realize net zero carbon emissions by 2050, the Cosmo Energy Group is pursuing corporate Power Purchase Agreements (PPAs)—long-term contracts for renewable energy-derived electricity and its associated environmental value. We are expanding our track record in this area through measures such as supplying renewable electricity under contracts with corporate customers.