Daiwa Securities Unit to Invest in Biomass Power Plant in Japan

  • 6 MW plant in northern Japan to use wood chips as fuel
  • 4 billion yen plant to start running by the end of 2017

Daiwa PI Partners Co., a wholly-owned unit of Daiwa Securities Group Inc., will invest in a 4 billion yen ($33 million) biomass power station in northern Japan.

The 6-megawatt plant, to be built in Yamagata prefecture, will use wood chips as fuel and start running by the end of 2017, Daiwa PI said in a statement Friday. Green Thermal Co., a Tokyo-based developer of biomass power, will also invest in the project.

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