Sumitomo Corp., Sumitomo Mitsui Banking Corp. and Development Bank of Japan have established their first fund dedicated to overseas offshore wind projects.
Spring Infrastructure Capital Co. will raise money from Japanese investors to finance offshore wind power projects outside the country. The fundraising goal is ¥30 billion ($271 million).
The fund will acquire U.K. assets held by Sumitomo Corp. as seed assets, including the company’s interest in the Race Bank and Galloper offshore wind farms.
