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Largest ever private sector financing of wind power project in Japan complete
1 January 2002
The largest ever private-sector financing of a wind power project in Japan is complete. Japanese trading company Marubeni Corp and electrical engineering firm Kita Koudensha Corp have secured financing for a wind farm in Wakkanai City on the northern island of Hokkaido. The joint-venture company, Saraki Tomanai Windpower Co, has borrowed ´1.7 billion from Sumitomo Trust & Banking Co to finance the 14.85 MW plant. The loan covers 60% of the total ´3 billion project. The wind farm is expected to begin operating in December, using nine Vestas 1.65 MW turbines. Marubeni is also considering other finance options for wind farms in the future including leasing.
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