Japanese company Hitachi Zosen Corp says that by 2007 it will develop a 3 MW offshore turbine mounted on a circular floating structure 60 metres in diameter. It is expected to cost around ´ 300,000/kW to build ($2540/kW), nearly three times the cost of a turbine on shore. Hitachi Zosen believes the extra energy yield to be gained offshore will compensate for the difference. A prototype is planned for fiscal year 2003. Hitachi Zosen is the Japanese agent for Ecotecnia. Meantime, Ishikawajima-Harima-Heavy Industries, Japanese agent for Nordex, is developing a model for an offshore facility consisting of five 2.5 MW wind generators mounted on a floating structure. So far it is only a study, but according to Japanese newspaper Nikkei, the project is slated for completion in 2007.