Japan's Mitsubishi Corp. is confident that the three offshore wind farms it won last year in auctions will be profitable despite the low feed-in tariff prices it bid, the head of its energy solutions unit said on Thursday.
The government on Dec. 24 selected three consortiums, all led by Mitsubishi, as the operators of offshore wind farms in Tokyo, Akita and Chiba prefectures, with a total generation capacity of 1.7 gigawatts.
Mitsubishi's rivals were stunned by the low tariff prices the trading house's group had proposed — ¥11.99 ($0.1) per kilowatt hour, ¥13.26 per kWh and ¥16.49 per kWh — far below a ceiling price of ¥29 per kWh.