Citing “company sources” the daily reported, “Eco Power will build 10 new wind-based power generation facilities, each with an output of 20,000-30,000 kW, in Japan in the years to come to boost its total wind power generation capacity by 200,000 kW.”
“In the current fiscal year, [Eco] plans to spend 7 billion yen (US$64.5 million) to build three such facilities in the greater-Tokyo and Shikoku regions, as well as in central Japan, all of which are slated to come on-stream in fiscal 2005,” added the report.
Eco hopes to raise the investment by increasing shareholder capital and by offering future profits from power generation as collateral to oil companies and others interested in investing in wind power to solicit the necessary funds.
It is believed the company needs to raise 500-800 million yen (US$4.6-US$7.4 million) to fund the 200,000 kW expansion plan. Up to now, the company’s facilities have been funded by a credit guarantee from Ebara.
