Japan: Banks to Loan USD 320 Million for Wind Power Company Purchase

Marubeni Corp. and Innovation Network Corporation of Japan, a joint private-public investment fund, plan to purchase British wind power manufacturer Seajacks. Six Japanese banks agreed to extend a loan of approximately USD 322 million for the companies by the end of the month.

The two companies plan to promote natural energy resources by assisting in wind power generators’ construction overseas.

According to the AsiaOne news portal, this will be the largest Japanese banks’ loan ever extended for the wind power generation.

Natural energy resources have been put to the spotlight after the Fukushima No. 1 nuclear power plant crisis and this project’s goal is to popularize the offshore wind power resource. Wind power testing is being performed off Fukushima Prefecture.

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Offshore WIND staff, May 22, 2012; Image: Seajacks