The Development Bank of Japan (DBJ) and Japan Wind Development (JWD) are planning to establish a JPY 50 billion (USD 423 million) fund to finance large-scale wind power generation projects, DBJ said in a statement.
The fund, provisionally named Japan Wind Development Co., Ltd., is a 50:50 joint venture between DBJ and JWD, and it will be used to finance up to 200MW of new wind capacity in Japan. The fund will be operational as of April 2016.
DBJ offered no details as to which projects will be funded, nor whether any of the funds will go towards offshore wind development.
JWD currently owns around 500 MW of wind projects.
According to Japan’s Ministry of the Environment, the country’s offshore and onshore wind energy generation has the potential to reach 64.6TWh by 2030.
Offshore WIND Staff