Green Power Investment To Build Wind Energy Plant In Northern Japan

Green Power Investment Corp., which counts Softbank Corp. (9984) as its top shareholder, is planning a large-scale wind farm in the Aomori Prefecture city of Tsugaru.

Construction on the wind power on the northern tip of Japan’s main island is to begin as early as the 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.

Besides using its own money, the Softbank affiliate will consider bank loans as a means of financing the project. The Tokyo-based company 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 as a promoter of renewable energy projects across Japan.