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Sumitomo Sees ‘Solar Bubble’ as Japan Rejects Nuclear

As Goldman Sachs Group Inc. and billionaire Masayoshi Son lead a swarm of investors exploiting Japan’s solar power subsidies, the world’s biggest, Sumitomo Corp. is betting on wind.

The trading house, Japan’s second-largest investor in power generation outside utilities, will add wind farms and at least two biomass plants to take advantage of the above-market rates for electricity from renewable sources the government introduced in July. Sumitomo’s local utility, Summit Energy Corp., expects profits from wind power to triple in as many years, said the unit’s president, Shinichi Kitamura.