Japan’s DBJ to finance wind power project in Aomori
Japan's state-owned Development Bank of Japan (DBJ) will financially support the 79.8MW onshore wind power project in Aomori, in an effort to achieve the country's 2050 decarbonisation goal.
DBJ and domestic banks will co-finance about ¥42bn ($308.7mn) to support the development of the wind power farm in Japan's northeast Aomori prefecture. Renewable energy firm Green Power Fukaura, a joint venture established to operate the project, will receive the loan to develop 19 windmills with a combined capacity of 79.8MW. The wind power farm is scheduled to start commercial operations in February 2024.
The joint venture will sell the electricity produced by the wind farm to domestic utility Tohoku Electric Power, which is also an investor of this project.
This project will contribute to the expansion of renewable energy, which is expected to become more widespread, DBJ said. Japan has set a target to achieve net zero greenhouse gas (GHG) emissions by 2050.
