Citizen-Based Sustainable Energy Fund Launched to Stop Global Warming

Ohisama Energy Fund Co., a Japanese energy business company, started soliciting for its investment fund ("Stop Global Warming Ohisama Fund") on November 16, 2007. The company was established with the aim of designing funds for individual investors to support sustainable energy businesses that utilize local resources. It has been working on community-based energy projects since its predecessor Ohisama Shimpo Energy Ltd. started such projects.

The "Stop Global Warming Ohisama Fund" investment fund offers two minimum investment amounts, 100,000 yen (US$ 885) and 500,000 yen (US$ 4,425) per share (contract terms of 10 years and 15 years with an expected annual yield of 2.1 and 2.6 percent, respectively). The company aims to raise 890 million yen (US$ 7.9 million) from citizens for the project's total cost of 1.8 billion yen (US$ 15.9 million). The projects as a whole will reduce carbon dioxide (CO2) by 3,300 tons per year, equivalent to CO2 emissions from 600 households.

The fund money will be directly invested in regional energy projects promoted by local municipalities and citizens groups in areas such as Minami Shinshu in Nagano Prefecture and Bizen Okayama in Okayama Prefecture. The projects include the Solar Power Generating Project to install a total of 160 rooftop photovoltaic generators in day-care centers and nursing homes, the Green Heat Service Project to supply heat energy generated by woody biomass, hot spring heat and other natural energy, and the Comprehensive Energy-Saving Service Project to offer consulting services including check-ups and advice on energy efficiency of buildings such as city offices and nursing homes.

By changing the mechanisms of cash flow and energy production/consumption to ones rooted in local communities, the company believes it will help transform society from the local level. It also intends to support the launch of other regional energy projects nationwide in order to build a sustainable energy society.



Posted: 2008/03/06 05:33:59 PM