Nippon Life, Banks Provide Loan for Eurus Japan Wind Project

Nippon Life Insurance Co. and four financial institutions provided a total 4.3 billion yen ($38.5 million) in loan for a wind power station in central Japan owned by Eurus Energy Holdings Corp.

Of that, Japan’s largest life insurer provided 800 million yen ($7.1 million), the Osaka-based Nippon Life said in a statement Tuesday. It’s the first time that the insurance company has provided a loan for a wind project.

Sumitomo Mitsui Banking Corp., Shizuoka Bank, Mishima Shinkin Bank and Joyo Bank also took part in the syndicated loan, according to Mitsue Usami, a spokeswoman for Eurus Energy.

The 17-megawatt station in Shizuoka prefecture has been operating since May, according to the Nippon Life statement.

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