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Japan Banks Follow Goldman to $19 Billion Solar Market

Japan’s biggest banks are following Goldman Sachs Group Inc. into domestic solar-power projects, anticipating an eightfold increase for investments in the industry.

Mitsubishi UFJ Financial Group Inc., Mizuho Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. expect the market to be worth as much as 1.8 trillion yen ($19 billion) over the next three years. That’s more than eight times the roughly 223 billion yen of investment into Japanese solar installations in 2012, according to data compiled by Bloomberg.