Funds for Windmill Construction Provided by Citizens

Green Energy Aomori, a non-profit organization in northern Japan, finished accepting applications from investors in the prefecture's first citizens' wind power plant in Ajigasawa. The plant is called "Wands," meaning "ours" in the local dialect.

This windmill project was inaugurated in spring 2003, having gained momentum from the nation's first citizens' windmill, "Hamakaze-chan," meaning "beach wind," installed in Hamatonbetsu, Hokkaido, in September 2001. To reflect the idea of "promoting renewable energy to benefit local people," separate schemes for investing in the project were designed for local, prefectural and national investors. A nationwide platform, the Japan Green Fund, inaugurated in December 2002, collected investments in the national scheme.

Applications for the national scheme were closed on September 30, 2003, having raised a total of 58.2 million yen (about U.S.$0.5 million) from 287 investors. Combined with the 120 million yen (about U.S.$1 million) collected in the local and prefectural schemes, citizens' investments now total 178.2 million yen (about U.S.$1.6 million). Initially, the target was set at 190 million yen (about U.S.$1.7 million), as total construction costs will amount to 380 million yen (about U.S.$3.4 million), of which half will be covered by subsidies. Together with 12 million yen (about U.S. $0.1 million) of capital allocated for the project by the Citizen's Company for Renewable Energy, Inc., founded by members of Green Energy Aomori, the project has succeeded in soliciting all construction costs needed from citizens, leaving only the costs to be covered by subsidies.

In Japan, similar projects are now underway nationwide.


- Citizens' Wind Power Plants Seek Investors (Related JFS article)
http://www.japanfs.org/db/254-e

Posted: 2003/12/27 11:16:07 PM
Japanese version