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Interest builds in renewable energy in Middle East, Africa

Japanese companies vie for power generation projects as prospects rise, costs decline

A geothermal power plant in Kenya

TOKYO -- With a combination of an abundance of natural resources and relatively low installation costs, Middle Eastern and African countries are attracting investment from all over the world in renewable power generation projects. Japanese energy companies are lagging behind their Western rivals and need to formulate strategies with trading houses and other players in an effort to tap future demand. 

Photovoltaic facilities are becoming less expensive in the Middle East and Africa, said Kohei Toyoda, director of new energy and power finance department I at the Japan Bank for International Cooperation, who is in charge of investment in those regions. 

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