Mainstream Renewable Power has dropped plans to build floating wind power off Japan, saying it will prioritise more advanced projects elsewhere.

Ireland-based Mainstream – owned by Norway’s Aker Horizons – last year concluded a deal to take a 50% stake in an 800MW project under early-stage development by US-based Progression Energy.

But the global developer said in a statement sent to Recharge: “Mainstream recently concluded its annual strategic review of the business, part of which involved a comprehensive market review.