Mitsubishi Takes $340M Impairment on its Offshore Wind Portfolio

In its latest quarterly report, Japanese industrial conglomerate Mitsubishi revealed that it is taking a $340 million hit in connection with the reduced prospects of its domestic offshore wind portfolio, which it has placed under review. 

Mitsubishi Corporation has announced plans to restructure its offshore wind portfolio in Japan, citing disruptions in the macroeconomic environment. It will be reviewing the future of three projects, including the 480 MW Noshiro Mitane Oga project off Akita Prefecture, 820 MW Yurihonjo City Offshore wind farm of…