METI announces cancellation of FIT-approved applications of 53,495 projects or 4.26 GW for FY 2022 ending March 31, 2023.

The partial revision of the Act on Special Measures Concerning Procurement of Electricity from Renewable Energy Sources by Electricity Utilities including amending FIT/FIP schemes came into effect on April 1, 2022.

FIT projects that signed grid connection contracts between April 1, 2012 and July 31, 2016, but did not apply to start construction did not yet have a deadline for the start of operation.  To reduce renewable energy costs, to reduce the burden on the public by lowering the renewable energy surcharge and to develop new projects by releasing grids secured by non-operating projects, tne revised act set a deadline for those projects to o resolve these issues. 

Of the FIT approved projects which have not started opeartion or haven’t applied to start construction on March 31, 2023, approvals were cancelled.

That included the projects between April 1, 2012 and July 31, 2016 and the projects approved by March 31, 2019 with expiration dates changed by transitional measures starting April 1, 2022.