SPARX Group Co., Ltd. (“SPARX”) and Toyota Motor Corporation (“Toyota”) today announce their agreement regarding the “Mirai Renewable Energy Fund” to be established by SPARX, which aims to invest in renewable energy power facilities, with Toyota participating as investor.
The fund’s basic principle is “driving renewable energy growth and use throughout Japan,” aiming to further improve regional economic development and Japan’s energy self-reliance.
Toyota is looking toward future electricity supplies for its production plants, electric vehicles, and dealerships, as part of achieving its “Environmental Challenge 2050” goals through its investment in the new fund. The fund also aims to support the realization of a low-carbon society that makes maximum use of clean energy.
|Basic principle||“Driving renewable energy growth and use throughout Japan”|
|Fund name||Mirai Renewable Energy Fund|
|Investment targets||Renewable energy power facilities
(power sources: solar, wind, biomass, geothermal, and hydraulic)
|Capital to be raised||Approximately 30.0 billion yen|
|Additional financing period||From November 1, 2018 until March 29, 2019|
|Fund period||25 years from the day the fund is formed|