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News 29

Japan Clean Energy Funding to Double as Incentives Start

Renewable energy investments in Japan may double as companies from mobile phone provider Softbank Corp. (9984) to battery maker GS Yuasa Corp. (6674) take advantage of government payment incentives beginning July 1.

The government initiative will require utilities to buy power from renewable energy providers at premium prices under so-called feed-in tariffs. As a result, investment in solar, wind and other forms of clean energy may jump to $17.1 billion from $8.6 billion in 2011, Bloomberg New Energy Finance estimates.

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