Japan to Establish Clean Energy Investment Fund, Ministry Says

Japan’s environment ministry plans to set up a fund to promote clean energy projects and to seek investment from the private sector.

The ministry is requesting 1 billion yen ($11.2 million) for the fund in a budget request for the year ending March 2014, it said today in a document on its website.

The fund will invest in renewable energy projects as well as community funds that will put money into clean energy, according to the document.

The move is intended to encourage investments and loans from the private sector into low carbon projects such as wind power generation, it said.

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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