Japan receiving $300 mn in solar project investment

Japan solar energy downtrend

Japan is to receive $300 million investment in large solar farms from renewable energy investors. The US-based clean energy private equity investor Hudson Clean Energy Partners and Middle East developer Adenium Energy Capital are making the investment.

Japan has been on a drive to develop renewable energy capacity since the earthquake and tsunami followed by the Fukushima nuclear plant meltdown in 2011.

The country is expected to add more than 11 gigawatts of solar capacity this year. It stands second in renewable energy targets and trails behind only China which has target of about 17.5 gigawatts, according to Bloomberg New Energy Finance.

Bloomberg reports that the developer Adenium had completed a 20-megawatt solar farm in Japan in May and has another 75 megawatts of projects under development.

Ajith Kumar S