Developer and power producer Green Power Investment established an approximately 61 billion yen investment fund, “Green Power Renewable No. 2 Investment Business Limited Partnership,” to fund its wind projects in Japan, the company announced on February 3, 2025.
The fund’s unlimited partners include Green Power Investment’s subsidiary Green Power Investment Fund Management No. 2, Sumitomo Mitsui Trust Investment, and JA Mitsui Energy Solutions. Limited partners include Green Power Investment, JA Mitsui Lease, Sumitomo Mitsui Trust Bank, Development Bank of Japan, and a number of other investors.
Green Power Investment’s first fund was established in 2020 with approximately 53 billion yen raised. A quarter of the funds was invested by Green Power Investment itself with Development Bank of Japan, JA Mitsui Lease, and Bank of Kyoto being among its other investors.
The “Green Power Renewable No. 1 Investment Business” fund invested in five operational onshore wind and solar projects including the 121.6MW Wind Farm Tsugaru in Aomori Prefecture, the 33MW Oborayama Wind Farm and the 12MW Otsuki Wind Farm in Kochi Prefecture, the 42.2MW Green Power Futtsu Solar Power Plant in Chiba Prefecture, and the 13.7MW Green Power Kanagi Solar Power Plant in Shimane Prefecture.
While the projects that the second fund will invest in were not disclosed, METI data shows that Green Power Investment and its affiliates have at least 273MW of other operational wind FIT/FIP capacity and at least 1.38GW in under development FIT/FIP capacity. Green Power Investment is also a member of the JERA-led consortium that was awarded a 615MW project off the coast of Aomori Prefecture in Japan’s third offshore wind auction.
