Leases
Norway’s 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.
Equinor’s statement is careful: Japan “remains important” — in commodities, capital markets, technology, and supply chain. Offshore wind development is absent from that list. That distinction is the signal.
For developers, lenders, and policymakers still active in this market, the question is not who is leaving. It is what conditions made this exit rational — and what would need to change.
