Green Power Investment Corporation, a Japanese renewable energy investment company, has established one of the world's largest investment funds for global wind energy projects.
Orrick, Herrington & Sutcliffe served as lead counsel for Green Power on the establishment of the fund, which is named Green Power Development Fund Coöperatief UA and is valued at approximately US$200 million.
The fund hopes to reduce carbon emissions by approximately two million tons a year, by acquiring and developing worldwide wind energy projects of 1,000 megawatts. Investors in the fund include Mitsubishi Corporation, the Development Bank of Japan, the Sumitomo Trust & Banking Co, and Nippon Life Insurance Company.
Orrick's cross-border team was led from Tokyo by global finance partner Yoichi Katayama. The Tokyo team was assisted by London partners Hazel Miller and Steve Jackson, and New York partner Michael Meyers.