JAPAN - Japan plans to install up to 45 gigawatts of offshore wind power by 2040 as part of its efforts to curb emissions.

Business Standard has announced that Japan's JFE Steel aims to decide this year on a joint venture in India with partner JSW Steel to produce electrical steel sheets used in power plant transformers.

"We are thinking of developing a business in the higher-end field, using our technology, to create demand for a grain-oriented electrical steel sheet together with JSW," said Koji Kakigi, JFE Holdings President.

According to Business Standard, JFE said last year it would conduct a feasibility study on forming a JV with JSW Steel, in which JFE holds 15% stake, to produce the steel sheet as demand for electric power in India was soaring. JFE also plans to develop its offshore wind power generation business.

Japan plans to install up to 45 gigawatts of offshore wind power by 2040 as part of its efforts to curb emissions.

Source: Business Standard