Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sumitomo, Partners to Provide Loans for Japan Biomass Projects

Don't Miss Out —
Follow us on:

July 1 (Bloomberg) -- Sumitomo Mitsui Banking Corp. and partners will provide a 6.3 billion yen ($62 million) loan for a biomass plant developed by a unit of First Energy Service Co.

A loan agreement for the 18-megawatt woody-biomass plant in the southwestern prefecture of Oita was signed with a group of banks that included Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank, First Energy Service said in a statement yesterday.

Separately, Sumitomo and others will provide a 2.2 billion yen loan for a woody biomass plant in northern Japan being developed by a unit of Fujikoh Co.

Bank of Tokyo-Mitsubishi UFJ and two other banks will also join, Sumitomo and Fujikoh said in a statement yesterday.

Japan saw a spike in the number of applications for biomass projects in March. The trade ministry approved projects with a combined capacity of 691 megawatts in a one-month period, adding to the 874 megawatts of capacity that had been approved since the introduction of an incentive program in July 2012.

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 Iain Wilson, Abhay Singh

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.