Invenergy, EastEdge set up renewable power JV in Japan
Jul 3, 2013 - US clean energy company Invenergy LLC said on Tuesday it had set up a joint venture (JV) with Japanese sector player EastEdge Energy GK that will be engaged in producing renewable energy in Japan.
The joint business, named Invenergy EastEdge GK, will look to collaborate with property owners and local government willing to provide all or certain parts of their land as sites where solar or wind facilities will be built. Invenergy considers that such partnerships will be beneficial to local communities as well, since they will provide an additional source of income and jobs.
The JV creation comes at a time when Japan is looking to foster renewable energy production as part of its efforts to achieve greater energy independence. The attractive feed-in tariffs (FiTs) for renewable power launched in July 2012 also serve as a stimulus.
Invenergy EastEdge GK will benefit from Invenergy's expertise in renewable energy generation, with over 7,100 MW of clean power projects developed by the company across the globe, Jason Holt, founding partner at EastEdge Energy, commented. The Japanese firm's solid network of local partners is also expected to contribute to the launch of a large number of clean energy projects in the country, he said.