The Tokyo metropolitan government announced Sept 19, 2017, that it has invested in and given loans to two mega (larger-scale) solar power plants in its Public-private Partnership Renewable Energy Fund project.

The two plants are located in Tsumagoi-mura (village), Agatsuma-gun, Gunma Prefecture, and Minamisoma City, Fukushima Prefecture, Japan, respectively.

The purpose of the project is to expand the use of renewable energy in a wide area such as the Tohoku region of Japan and promote the introduction of renewable energy in the Tokyo metropolitan area.

This time, the Public-private Partnership Renewable Energy Fund invested in and gave loans to (1) JAG Wide-area Fund (T·JAG Green Energy Investment Limited Partnership), which is managed by JAG Investment Management Co Ltd, and (2) Sparx Wide-area Fund (Sparx·Public-private Partnership Renewable Energy·Lump-sum-type Investment Limited Partnership), which is managed by Sparx Asset Management Co Ltd.

The JAG Wide-area Fund invested in and gave a loan to "Tsumagoi Solar Way" (output: about 15.4MW), which started operations in August 2017, while the Sparx Wide-area Fund invested in and gave a loan to "SGET Minamisoma Mega Solar" (output: about 36.8MW), which is scheduled to be completed in 2020.

"The project in Fukushima Prefecture is expected to contribute to the reconstruction and vitalization of the region damaged by the Great East Japan Earthquake because the solar power plant will be built on the disaster-affected area," the Tokyo metropolitan government said.