August 6, 2018 Read More →

Japanese investment bank launches $45 million fund to seed domestic ‘mega solar’ plants

Environmental Finance ($):

Daiwa Securities Group has launched the Daiwa GI Green Fund, called the “Solar Fund,” with a committed capital of totally ¥5 billion (US$45 million).

The two asset managers of the fund, which will invest into large-scale solar projects in Japan, are GI Capital Management and Daiwa Real Estate Asset Management.

The fund seeks to deliver stable operations by building the ‘mega solar’ plants with funding that partially finances the projects’ pre-construction phase and by receiving funding from financial institutions.

Daiwa, with ¥67 trillion ($605 billion) assets under custody, has established Daiwa Energy & Infrastructure (DEI) to expand its business in the energy and infrastructure sector. As the Solar Fund is part of this expansion, it is planned that Daiwa will transfer its interest to DEI in the future.

More ($): Daiwa launches solar fund

Asset Publishing and Research Ltd.:

Daiwa Securities Group and GI Capital Management are establishing the Daiwa GI Green Fund that will invest in large-scale solar power projects in Japan.

The launch of the fund forms part of Daiwa’s plan to expand into the renewable energy space. It set up the Daiwa Energy & Infrastructure Co with the purpose of boosting its energy and infrastructure assets.

According to Daiwa, its interest in the solar fund will eventually be transferred to the new Daiwa energy company.

The solar fund’s business activities will contribute in achieving the United Nations’ 17 Sustainable Development Goals (SDGs), in particular, Goal 7: Affordable and Clean Energy and Goal 13: Climate Action.

Daiwa Real Estate Asset Management is also a partner to the fund. Daiwa and Daiwa Real contribute in accelerating the introduction of renewable power generations in Japan through the funding of large-scale photovoltaic solar power plant projects.

More: Daiwa Launches New Solar Fund

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