Marubeni's Investment Firm Listed on Infrastructure Fund Market of TSE

2020/02/24 10:02
Kenji Kaneko, Nikkei BP Intelligence Group, CleanTech Labo
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"Ishikawa Noto Gouroku Solar Power Plant," which Japan Infrastructure Fund Investment acquired (source: prospectus for the notification of the issuance and sale of new investment units, Japan Infrastructure Fund Investment)

Japan Infrastructure Fund Investment Corp (Chuo-ku, Tokyo) was listed on the Infrastructure Fund Market of the Tokyo Stock Exchange (TSE).

The offer price was ¥95,000. The first price, highest price and closing price were ¥101,000, 103,000 and 102,000, respectively, showing a smooth launch.

The investment corporation invests in 15 solar power plants being operated based on the feed-in tariff (FIT) scheme. The total capacity of solar panels is about 30.49MW, and the total grid capacity is about 24.12MW.

The main sponsor of the investment corporation is Marubeni Corp, and Mizuho Bank Ltd and Mizuho Trust & Banking Co Ltd participate as sponsors. The total value of its assets is about ¥12,430,810,000, of which about ¥10,498,470,000 is accounted for by infrastructure assets. And 84.4% of the total value of the infrastructure assets is accounted for by investments in solar power generation facilities.

Japan Infrastructure Fund Advisors Ltd (Chuo-ku, Tokyo) is responsible for the management of the assets of Japan Infrastructure Fund Investment. Japan Infrastructure Fund Advisors is owned 90% by Marubeni, 5% by Mizuho Bank and 5% by Mizuho Trust & Banking.

In its "announcement of listing" announced Feb 20, 2020, Japan Infrastructure Fund Investment said, "The importance of renewable energy in Japan is expected to continue to increase, and there is enough potential for expansion" and "We will focus on investment in, for example, solar power generation for the time being and consider investment in wind and geothermal power generation in the future in the aim of diversifying our portfolio."

The Infrastructure Fund Market of the TSE was established in April 2015. And Takara Leben Infrastructure Fund Inc (Chiyoda-ku, Tokyo) was listed on the market as the first issue in June 2016. With the listing of Japan Infrastructure Fund Investment, the number of firms listed on the market became seven.