Green Power Investment Corp, whose main shareholder is Softbank Corp, is planning a large-scale wind farm near Tsugaru in the Aomori Prefecture.
Construction on the facility, whcih is to be located at the northern tip of Japan’s main island, is to begin in summer of 2013, with a spring 2016 target for starting commercial operations. Plans call for up to 55 wind turbines with a combined generating capacity of 126.5 MW.
Project finance will come from cash assets and bank loans yet to be arranged. Green Power is moving to expand its wind power business in anticipation of the passage of legislation providing incentives for renewable energy.
Softbank invested about 1 billion yen in Green Power in June, becoming its top shareholder. The mobile phone carrier has emerged recently as a promoter of renewable energy projects across Japan.
