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Environment

Japan offshore wind farms offer $18bn in lending opportunities

Sector holds promise as target for sustainable investing, Mizuho study finds

Japan enacted a law last year to promote the expansion of offshore wind farms.   © Reuters

TOKYO -- Offshore wind farms planned across Japan total 2 trillion yen ($18 billion) in project costs, Mizuho Bank estimates, offering lending opportunities for banks seeking to boost their environmental credentials.

The Mizuho Financial Group member and peers Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group are reportedly considering proposals for financing 10 such projects as lead underwriters. Offshore wind farms typically require financing from multiple lenders due to their high costs.

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