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Mitsubishi to join big Japanese wind farm project

TOKYO -- Mitsubishi Corp. will lead creation of Japan's second-largest wind farm, part of a broader shift in focus from solar power to other forms of alternative energy with higher mandatory purchase prices.

The 66,000kW farm in the country's northwest is seen starting operations in fiscal 2019 and costing around 20 billion yen ($181 million). Mitsubishi will take an around 44% stake in a project company to be incorporated Friday, which will receive starting capital in the tens of millions of yen. Venti Japan, a wind power company affiliated with regional Hokuto Bank, will take a 51% interest. The remaining 5% will go to C-Tech, an affiliate of Chubu Electric Power providing technological aid.

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