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Japan Sets up Clean Energy fund to revitalise regional economies

02 Jul 2013

Japan’s Ministry of the Environment has set up a fund to invest in clean energy projects, of over 1.4 billion yen ($14million) for fiscal 2013. The fund is aimed at providing investment in clean energy projects to support regional companies and reduce carbon dioxide emissions.

The fund will invest in projects with private investors for as much as a half of equity.

Kazuhiro Okuma, who is amongst those in charge of the fund, has spoken of the importance of creating “a model for sustainable society by promoting low carbon projects and revitalising local communities at the same time.”

The move has come a year after Japan introduced an incentive programme for clean energy, which has boosted solar capacity more than any other renewable source.