Japan: New Toyota Fund Will Target Geothermal and Other Renewable Energies

Toyota to chip in for $270m renewables fund (Nikkei Asia Review)

Automaker eyes clean energy to power zero-emissions factories

Toyota Motor will be a key investor in a Sparx Group renewable-energy fund announced Wednesday, aiming to reduce carbon emissions from its auto factories and dealerships.

The Mirai Renewable Energy Fund will aim to raise 30 billion yen ($267 million) in capital, with Toyota supplying 10 billion yen. Sparx will manage the fund from November and solicit other investors.

The fund will target a variety of facilities, such as solar, wind, biomass and geothermal power plants. Rather than investing in existing facilities, it will target new ones to be involved in from the initial stages. Power generated may be sent to Toyota factories or dealerships.

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