ENVIRONMENT | Staff Reporter, Japan

Asian heavy hitters look to fund multi-million dollar energy projects

So who are the new angel investors of big-ticket Renewable Energy projects?

State-owned Development Bank of Japan (DBJ) and Masdar, Abu Dhabi's clean technology company, will set-up a joint investment platform to buy into renewable energy projects in the developed world.

Masdar said the platform will purchase solar and wind power plants in countries that comprise the Organisation for Economic Cooperation and Development. Special investment emphasis will be placed on U.S. and European companies. The two government-controlled entities will hold an equal share in the investment platform.

Projects with a generation capacity of up to one gigawatt have been identified as potential investment recipients.

"Given the lack of financing available to fund operational renewable energy projects, it is an opportune time to invest in projects that can provide stable returns to Masdar Capital and Development Bank of Japan," said Sultan Al Jaber, Masdar's chief executive.

DBJ, which was founded in 2008, will provide the platform with integrated investment and loan services. Masdar, on the other hand, aims to make Abu Dhabi a source of renewable energy knowledge, development, implementation and sustainable development.

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