Daiwa Securities Group and GI Capital Management are establishing the Daiwa GI Green Fund that will invest in large-scale solar power projects in Japan.

The launch of the fund forms part of Daiwa’s plan to expand into the renewable energy space. It set up the Daiwa Energy & Infrastructure Co with the purpose of boosting its energy and infrastructure assets.

According to Daiwa, its interest in the solar fund will eventually be transferred to the new Daiwa energy company.

The solar fund’s business activities will contribute in achieving the United Nations’ 17 Sustainable Development Goals (SDGs), in particular, Goal 7: Affordable and Clean Energy and Goal 13: Climate Action.

Daiwa Real Estate Asset Management is also a partner to the fund. Daiwa and Daiwa Real contribute in accelerating the introduction of renewable power generations in Japan through the funding of large-scale photovoltaic solar power plant projects.