Result of the Business Plan Review for the Offshore Wind Power Generation Projects in Choshi City, Chiba Prefecture, Japan
Chiba Choshi Offshore Wind LLC (Choshi LLC) has been developing offshore wind projects in ,Akita Prefecture, Choshi City ,Chiba Prefecture,Japan.
As announced by Mitsubishi Corporation and C-TECH CORPORATION in February 2025, Choshi LLC has been reviewing the business plan for this project due to unexpected changes in the business environment. As a result of the review, we have decided not to proceed with the development of the project.
Since the selection as the operator of this project in December 2021, in the wake of the pandemic and the Ukraine crisis, the business environment for offshore wind power has significantly changed worldwide due to factors such as inflation, the depreciation of the yen, tight supply chains, and rising interest rates.
To adapt to these unexpected changes, we have been pursuing various options including reassessment of revenue, costs, and the project schedule. However, after discussions among the member companies, we have determined that it is difficult to continue our business.