Mitsui, Tokio Marine Asset Plan Fund for 8 Japan Solar Stations

A unit of Mitsui & Co. (8031) and Tokio Marine Asset Management Co. are planning a 7.7 billion yen ($75 million) fund focused on solar projects for institutional investors.

The fund plans to invest in 8 solar stations to be built in various locations across Japan that will have a total capacity of 25 megawatts, Mitsui & Co. Plant Systems Ltd. said in a statement today.

The fund will be opened by the end of August, according to the statement. Ownership of each plant will be transferred to the fund upon completion.

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

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Peter Langan, Jason Rogers

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