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Climate Change

Japan development bank launches $500m fund to grow wind sector

Novel framework lowers hurdles for newcomers to build more farms

Green Power Investment began operating a wind farm in the northern Japanese city of Tsugaru in April 2020. Wind power is seen playing a key role in Japan's goal of becoming carbon-neutral by 2050.

TOKYO -- The government-backed Development Bank of Japan has launched a roughly 53 billion yen ($509 million) fund to help drive the expansion of Japan's wind power industry.

The DBJ chipped in 13 billion yen to the fund, launched in partnership with Tokyo-based renewable energy provider Green Power Investment. Ten other institutional investors, including insurers and regional banks, are participating as well. Funds focused exclusively on wind power operators are rare in Japan.

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