By: greenbank On: March 01, 2016 In: Comments: 0

GFO committed to invest US$5.9 million in a wind energy power generation project planned by Japan Wind Development Co., Ltd. This project aims to introduce renewable energy in Kakegawa, Shizuoka prefecture, in collaboration with local industry, leveraging Japan Wind Development Co., Ltd.’s accumulated experience and expertise in the wind energy business.

Japan Wind Development Co., Ltd., as the principal sponsor, will contribute US$6.1 million, and GFO will invest US$5.9 million, in the Kakegawa Wind Development Co., Ltd., which is the SPC of this project. The SPC will utilize the above funds to develop a wind farm with the help of regional construction companies, focusing on EPC. In addition, the electricity generated through this project will be sold to Chubu Electric Power. Loan financing will be raised from financial institutions.

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