Mr.Kirana: So, with the upcoming net zero target, there're a lot of business opportunities in Japan.
Narrator: Foreign investment in Japan has continued to increase, and as of the end of 2022, totaled 46.2 trillion yen. In this interview series, we unravel the reasons behind Japan's current allure as an investment destination, exploring the insights of experts from around the world.
Narrator: Kirana Limpaphayom, Head of Power Business, Banpu Public Company Limited, an International Versatile Energy Provider in the Asia Pacific has identified Japan as a priority market for mega solar power generation and is currently developing several projects there.
He talks about the attractiveness of the Japanese renewable energy market and a vision for the future.
Caption: Attractiveness of the Japanese Market for Renewable Energy
Mr.Kirana: we see Japan as a country with a high demand for electricity, in particular a very high need for the green energy going forward because of the net zero target. So, we believe that Japan is one of the best markets in the world to invest in renewable electricity.
I think Japan provides very clear regulations and, all the conditions surrounding the business environment for those who want to come and invest in renewable energy, that‘s very important. That’s number one. Regulations. Number two, there is a lot of support, not only regulations.
I also have to mention one more thing. In terms of doing project financing, which is one of the most important aspects of doing any business, I think Japan also has abundant, cheap sources of funding, available, especially for green businesses going forward. That's also another supportive factor in Japan.
Caption: How Did Your Business Get Started in Fukushima?
Mr.Kirana: We started to survey the land and when we got into this one project, called the Nari Aizu solar farm. Basically, we just fell in love with the area.
When we learned about the story in Aizu Wakamatsu about the disaster relief efforts, about the attempt to revive people's livelihoods in Fukushima prefecture after the sad incident, we just wanted to become part of it and we have been part of it since then and are going to be an active part of it into the future as well.
We want to be a long term player everywhere we go, and this is the only way we have to do it sincerely.
Narrator: We interviewed Mr. Yasuhiro Hattori, Managing Director of Energy Agency Fukushima on the renewable and new energy market in Fukushima.
Caption: What is the Fukushima New Energy Promotion Vision?
Mr.Hattori: Fukushima Prefecture, which experienced a major earthquake in 2011, set its sights on becoming a front-runner in renewable energy in Japan.
The Fukushima Plan for a New Energy Society was launched by the government in 2016 to create a model for a future hydrogen society in Fukushima through the use of the prefecture's abundant renewable energy.
Caption: Efforts in Industry-academia-government Collaboration?
Mr.Hattori : We created the Fukushima Renewable Energy Research Association, an industry-academia-government network engaged in various activities, including hosting seminars, developing technologies, and working on commercialization initiatives.
Banpu Japan has participated in some of these seminars.
Fukushima also hosts an annual renewable energy expo, with many overseas companies participating.
Caption: Expectations for Foreign Companies With Technologies
Mr.Hattori : We want to work with overseas companies that possess technologies not available in Japan.
It will benefit the local market when overseas companies expand into the Japanese market, as they must cooperate with local companies for construction and maintenance.
Fukushima Prefecture is very enthusiastic about overseas collaboration, having cooperated with four European regions with advanced renewable energy.
Caption: Fukushima Prefecture’s Attractiveness to Foreign Companies
Mr.Hattori : Fukushima is a leading region for renewable energy and hydrogen and has had an industrial cluster.
We also have a highly advantageous support system for overseas companies wishing to establish a base in the prefecture. Please consider expanding your business to Fukushima Prefecture.
Caption: Future Activities in Japan
Mr.Kirana: We foresee that Japan will be in need of much more green energy going forward. So, within our project pipeline, there are quite a lot of projects that we are looking to build, for example, more solar farms, more battery farms that we would like to invest more in Japan because of the demand. In the future, we envisage that the demand for green energy from people in Japan will increase more and more in the future, and in order to provide assistance for the Japanese to reach the net zero target, you will need a lot more green power generation and we want to be a part of it as well.
Mr.Kirana: So, with the upcoming target of net zero in Japan, I think there's a lot of business opportunities that we can go in and explore and help to accelerate the process and grow together.
