The Development Bank of Japan and Japan Wind Development Company have together set up Japan’s first wind power fund.
The joint fund of 50bn yen, equivalent to $423m, will be launched in April.
Following the introduction in Japan of a feed-in-tariff programme for renewable energy a number of energy funds have been launched, mainly focusing on solar power.
The country wants wind power to make up 2% of the energy used in Japan by 2030, according to a government report from 2015.
JWD will manage the operation and maintenance business of each wind power generation facilities.
In a joint statement the companies said: “As the nation raises CO2 reduction targets and increases energy independence, we expect a large increase in renewable energy installation.”
Image: MorgueFile
