Daiwa Securities Unit to Invest in Biomass Power Plant in Japan

(Bloomberg) — Daiwa PI Partners Co., a wholly-owned unit
of Daiwa Securities Group Inc., will invest in a 4 billion yen
($33 million) biomass power station in northern Japan.

The 6-megawatt plant, to be built in Yamagata prefecture,
will use wood chips as fuel and start running by the end of
2017, Daiwa PI said in a statement Friday. Green Thermal Co., a
Tokyo-based developer of biomass power, will also invest in the
project.

To contact the reporter on this story:
Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at landberg@bloomberg.net
Abhay Singh, Indranil Ghosh

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