Japanese investment bank Daiwa Securities Group has established Daiwa GI Green Fund LLC – also known as the ‘Solar Fund’ – jointly with GI Capital Management and Daiwa Real Estate Asset Management in order to make greenfield investments in mega- and large-scale solar projects in Japan.
The Solar Fund aims to support various parts of project development including construction costs, the preconstruction phase and obtaining project finance from financial institutions.
Daiwa had already established Daiwa Energy & Infrastructure Co. Ltd. (DEI) to expand its presence in energy and infrastructure sectors and the creation of the Solar Fund comes as part of this. Committed capital in the fund stands at JPY5 billion (US$44.8 million).