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Mitsubishi to exit Japan offshore wind power project
Mitsubishi Corporation says it has decided to pull out of a
government-led offshore wind-power project as rising costs
undermine the venture's profitability.
The Japanese trading house has led a consortium to build and operate
wind turbines in three areas off the coasts of Akita and Chiba
prefectures.
President and CEO Nakanishi Katsuya said it wasn't feasible to
develop a business plan for the project.
He said: "Due to the coronavirus pandemic and the crisis in Ukraine,
the business environment surrounding the offshore wind power
industry has changed significantly around the world. This includes
supply chains, inflation, rising interest rates and currency exchange
rates. And those are causing the cost to swell far beyond
expectations."
The Japanese government has identified offshore wind power as key
to making renewables the country's main energy source.
The government solicited tenders for the project and a bid from a
group led by Mitsubishi won the contract in 2021.
Analysts say Mitsubishi's withdrawal would probably force the
government to restart the tender process for the project.
profitability-ROM, ØRM
consortium- 共同事業体、コンソーシアム venture - 事業、冒険的試み
offshore - 沖合の、洋上の
turbine - タービン
feasible - 実現可能な
supply chain - サプライチェーン(供給網)
swell膨らむ、増大する
pandemic - パンデミック (世界的流行)
crisis -
withdrawal - 撤退、引き上げ
inflation - インフレーション、物価上昇
currency exchange rates 為替レート
solicited - 募集された、要請された
tender notes

ページ2:

【Part 1: Vocabulary】 単語の意味を選びなさい
1.The word feasible in the passage is closest in meaning to:
a) Impossible
b) Practical/Possible
c) Dangerous
d) Profitable
2.The word consortium refers to:
a) A single company
b) A group of companies working together
c) A government agency
d) A financial crisis
3.The phrase pull out in this context means:
a) To start
b) To invest
c) To withdraw / quit
d) To expand
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