Japan’s Dai-ichi Life Insurance Company has decided to make its first investment in offshore wind by backing a German project.
The insurer will provide €30m in project finance to an unnamed wind farm through a so-called trust structure, it said.
The company said it aims to acquire the skills to support future offshore wind developments in Japan through investments abroad such as this one.
Demonstration projects with about 20MW are planned in the Asian country by 2020 and about 1.2GW are in planning, it added.
The Tokyo company is growing its investments in infrastructure since 2013. Last year it invested more than ¥100bn in infrastructure and project finance.
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