Japan Green Fund For Renewable Energy Established

Japan Green Fund was established in Japan on 7 December 2002 with the aim of spreading the use of renewable energy for local communities.

The first wind power plant built using citizen funding, known as Hamakaze-chan, or "beach wind," was installed in September 2001 in Hamatonbetsu-machi in Hokkaido, northern Japan. Preparations for similar projects are also underway in Aomori and Akita prefectures.

The Japan Green Fund helps communities build new networks and serves as a platform for citizens from any part of Japan to invest. Currently, the Fund is soliciting about 400 million yen (about U.S.$3.25 million) for the construction of windmills planned in Aomori and Akita prefectures in 2003. The Fund also aims to create new business models by supporting communities interested in commercializing "citizens' wind plants."

Based on the idea that communities should benefit from the use of their local renewable energy, communities are hoping to attract funds from other areas in a form that will contribute to their local economies.

Amid the growing interest in renewable energy, especially in wind power generation, various companies, including large trading firms are now entering into green energy businesses. Meanwhile, public demand for being able to make and choose one's own energy is increasing. It is expected that Japan Green Fund will promote citizens' windmills throughout the country, based on its growing experience and know-how.



Posted: 2003/01/04 08:12:21 AM
Japanese version