GE Energy Financial Services has so far raised ¥46.3bn (€360m) for a solar energy fund in Japan to invest in local solar power projects.
Development Bank of Japan has committed one third of the investment, with additional backing by a group of Japanese institutional investors.
The fund will look to raise ¥75bn by the third quarter of the year, with the potential to rise to ¥90bn.
It has already invested in solar assets, including the 32MW Kumenan project.
Development Bank of Japan will hold limited partner interests in the fund.
GE Energy Financial Services president and chief executive David Nason said: “We are pleased to partner with Development Bank of Japan and other leading Japanese institutional investors to create this new vehicle in Japan.”
Image: Kumenan wind farm (GE)
