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Environment Ministry to support renewable energy projects by companies, local governments

  • July 28, 2017
  • , Nikkei , p. 5
  • JMH Translation

The Environment Ministry is taking steps to support venture companies and local governments promoting the local consumption of locally produced renewable energy. It will provide subsidies for the cost of issuing so-called “environment bonds” to fund their projects, as well as for the operating cost of entities set up by local governments. This policy is aimed at increasing the use of renewable energy in order to prevent global warming. The ministry will earmark about 7 billion yen in its FY18 budget requests for the subsidies.

 

Environment bonds are bonds used solely to fund environmental measures. Compared to loans that require repayment in a short period of time, they are better suited to relatively high risk projects. They can be used to support renewable energy ventures as well as contribute to job creation and regional revitalization.

 

Projects related to solar energy, wind power, biomass, waste-to-energy power generation, and so forth are eligible for the subsidies. The Environment Ministry will subsidize the cost of issuing environment bonds. The subsidies will also cover the cost of commissioning research institutes to assess the effectiveness of projects funded by the bonds in preventing global warming.

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