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Daiwa Securities to boost investment in solar power projects

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Daiwa Securities to boost investment in solar power projects

DaiwaSecurities Group Inc. plans to boost its investments in solar powerprojects as part of efforts to get higher returns amid Japan's negativeinterest rate policy, The Nikkeireported May 8.

The company will increase its investments in solar powerprojects to about ¥50 billion in the next three years from about ¥10 billionnow.

Solar power projects that obtained approvals from theJapanese government between July 2012 and March 2014 are promised highelectricity rates for 20 years from the start of operations. Daiwa aims to buystakes in profitable solar projects using funds raised from institutionalinvestors. It expects about 3% yields, TheNikkei said.

As of May 6, US$1 wasequivalent to ¥106.70.