OSLO, June 26 (Reuters) – Norway’s energy firm Equinor has decided to end its offshore wind business activities in Japan and close its Tokyo office by the end of 2026, the company said on its website.
“This decision reflects a reassessment of Equinor’s strategic direction, with a strengthened focus on integrated power markets,” it added.
The majority state-owned company entered Japan in 2018 but failed to win any leases in successive offshore wind auctions.
It had already pulled back from offshore wind development in several markets, including Vietnam, Spain, Portugal and France, citing rising costs.
Equinor, whose core business remains oil and gas production, further scaled back its renewables ambitions on June 16, scrapping its 2030 installed capacity target.
Instead, the company said it would focus on expanding its integrated power business, combining renewables with gas-to-power generation and other sources.
Reporting by Nerijus Adomaitis, editing by Essi Lehto.
