The new governor of Tokyo, Yoichi Masuzoe has announced the formation of a public-private fund that will focus on reneweable energy investments.
The fund could reach up to ¥4 billion (US$39 million), with the local government expected to budget around ¥1 billion (US$9.8 million) this fiscal year toward renewable energy projects.
Masuzoe announced the fund on Friday at his first press conference since being sworn in on 11 February and said that it was his goal to expand renewable energy generation. He also outlined his aim for the funds to help the disaster-struck Tohoku region.
Masuzoe has also advocated a gradual phase out of nuclear energy in the country, while his opponents have backed the immediate shutting down of nuclear generation in the wake of damage to the power plant at Fukushima following the 2011 tsunami and earthquake.
