A fund set up by Japan’s Ministry of the Environment will invest 590 million yen ($5.2 million) in a 14-megawatt wind power project in central Japan being planned by Japan Wind Development Co.
The plant in Kakegawa city, Shizuoka prefecture, will be completed by early 2018, Green Finance Organisation, which manages the fund, said in a statement Monday. Japan Wind Development will invest 610 million yen and the project will seek loans from financial organizations.
Power from the station will be sold to Chubu Electric Power Co., according to the statement.
The environment ministry set up the fund in 2013 to invest in renewable energy projects to support regional companies and reduce carbon dioxide emissions.