Baker & McKenzie (Gaikokuho Joint Enterprise) recently advised Japan Energy Capital G.K. on the establishment of Japan Energy Fund ("Fund"), a decarbonized energy fund focused on overseas investment. Japan Energy Capital G.K. will serve as a General Partner in the Fund with ENECHANGE, Looop Inc, Daiwa Energy & Infrastructure Co. Ltd. and Hokuriku Electric Power Company as the four investor companies.
The Fund aims to build sustainable societies using the five Sustainable Development Goals (SDGs) adopted at the UN Summit in 2015. By recruiting investors within Japan and overseas to invest in decarbonization and ESG, it expects to generate approximately JPY 100 billion in investment. The Fund first plans to acquire joint operating rights to a 13 MW solar power plant in the Republic of Turkey — an emerging market where electricity demand is expected to grow steadily and where the renewable energy market investment environment is improving — for USD 100 million (JPY 11 billion).
The project was led by Naoaki "Nick" Eguchi, partner and co-chair of the Renewable & Clean Energy Group at the Baker McKenzie Tokyo office. Seiji Tomimoto, a Senior Associate with experience working in Istanbul, collaborated with Baker McKenzie Istanbul office partner Duygu Turgut and senior associate Güven Maviç on this project.
Regarding this project, Nick said, "Baker McKenzie is the first global law firm to participate in the World Business Council for Sustainable Development (WBCSD) established at the UN Conference on Environment and Development. We are very honored to have had a hand in helping this project succeed by taking advantage of our global network and expertise to contribute to the development of sustainable infrastructure in emerging markets and spur investment in start-up companies with cutting-edge technologies."