Japanese government to guarantee debt for two projects
State-run company Japan Oil, Gas & Metals National Corp. to provide loan guarantee for two geothermal projects in Japan to help them secure funding.
As reported by Bloomberg late last week, the government of Japan is planning to provide a loan guarantee for two geothermal projects planned by private players in Japan.
This is reported according to the Ministry of Economy Trade and Industry (METI). The guarantee will be given by Japan Oil, Gas & Metals National Corp, which is state run.
A first guarantee will be given to a small 5 MW project developed by Kyushu Electric Power Co in Oita Prefecture. Another guarantee will be given to an even smaller 400 kW geothermal power project in Fukushima.
Loan guarantees as such now being provided are to encourage investors and help projects secure necessary financing.