Daiwa established solar fund for investing in Japanese large scale PV projects

Daiwa Securities Group Inc. established the »Daiwa GI Green Fund LLC«, jointly with GI Capital Management Ltd. and Daiwa Real Estate Asset Management Co. Ltd., for investing in »Mega Solar« projects in Japan with a committed capital of totally ¥5 billion ($45 million). The solar fund is established for constructing and starting the operation of large-scale photovoltaic solar power projects, by funding a part of construction costs in the preconstruction phase and obtaining project finance from financial institutions, says the company.
Daiwa, with ¥67 trillion ($605 billion) assets under management, has established Daiwa Energy and Infrastructure (DEI) to expand its business in the energy and infrastructure sector. Daiwa’s interest in the solar fund are planned to be transferred to DEI in the future.

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