Japan Energy Fund (JEF)

Enechange and Looop have announced that they have launched the overseas carbon-free energy fund “Japan Energy Fund (JEF).” The companies are seeking investors from Japan and beyond to participate in carbon-free and ESG investments, with the fund aiming to make around 100 billion yen of total investments.

The No. 1 Fund is planning to develop $100 million (around 11 billion yen) worth of businesses, and it counts Daiwa Energy & Infrastructure and Hokuriku Electric Power Company among those who have already decided to invest. Its first investment project involves the acquisition of the joint operating rights of a 13MW solar power plant located in Denizli, Turkey, with an investment capital of around $10 million.

This fund will operate along two axes, namely “JEF Renewables,” which invests in renewable energy operations in emerging countries, and “JEF Ventures,” which invests in energy-related startups possessing cutting-edge technology that are located in countries with highly developed electric power businesses such as the United States and European countries. Through the “promotion of carbon-free energy investment overseas by Japanese companies,” this fund aims to create a sustainable society by concentrating on initiatives that seek to achieve its five SDGs goals, including “bringing clean energy to everyone” and “creating the base for industrial and technological innovation.”