Maeda and Macquarie to co-develop clean energy in Japan

Will set-up joint venture by year end.

The JV will develop the clean energy and transport infrastructure businesses. It will first focus on large-scale solar projects in Japan.

The partners later plan to expand the business to include wind power generation and road and airport concessions.

They are targeting 300 MW in generation capacity and investment of US$1 billion in renewable energy businesses in the first three years. The partners will set up a special purpose company for each project and raise financing from lenders.

The companies are hoping to take advantage of Japan’s renewable energy subsidies introduced in 2012, and infrastructure projects related to rebuilding after the 2011 earthquake and tsunami and for the 2020 Tokyo Olympic Games.

Maeda is a general contractor based in Tokyo that’s developing wind and solar projects. Macquarie Capital is a unit of the Sydney-based Macquarie Group.