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Japan’s METI Wants to Triple Budget for Clean Energy Development

Japan’s Ministry of Economy, Trade and Industry asked for 130.4 billion yen ($1.7 billion) to develop clean energy for the fiscal year starting April 1.

Of that, the ministry wants to allocate 25 billion yen to develop power grids to promote wind power, according to a budget request announced by the ministry today.

METI plans to spend 17.5 billion yen to develop wind power including a floating offshore wind project Japan is developing in Fukushima after the 2011 earthquake.

The request also includes 23.1 billion to develop large- size storage batteries. The budget for this fiscal year’s renewable energy projects was 43.5 billion yen, according to the ministry.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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