DBJ a Winner at ADFIAP Awards 2020Award Cites DBJ'S Financial Support for Power Line Projects Designed to Increase Sustainable Energy Use in Fukushima Prefecture
Development Bank of Japan Inc. (DBJ) has been adjudged a winner by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) for outstanding work in the category of Infrastructure Development. In selecting DBJ for the award, ADFIAP cited the bank's financial support for power line projects designed to expand sustainable energy use in Fukushima Prefecture. The 2020 awards were presented at the ADFIAP General Meeting held virtually on the 28th and 29th of October, 2020.
The ADFIAP Awards recognize the work of development finance institutions with distinguished achievements in the Asia Pacific region. The aim of the awards is to publicize deals and projects which are both outstanding and instructive, as well as to share financial methods and techniques.
The Fukushima Plan for a New Energy Society is being promoted by Fukushima Prefecture with a three-pronged objective: expanding installation of sustainable energy facilities, creating a model for a hydrogen economy, and building smart communities. Placing its focus on the energy field, the plan is designed to encourage the prefecture's ongoing reconstruction from the damage caused by the Great East Japan Earthquake of 2011.
Under the prefectural plan, Fukushima Soden , an electricity distribution company, constructs and operates a total of 80 kilometers of transmission lines connecting renewable energy generation firms with general power transmission and distribution firms for the purpose of expanding the use of sustainable energy. The usual practice for producers of renewable energy is to connect up with existing power lines. In this case, however, the firm's intent is to develop new transmission lines efficiently and quickly, while also collaborating in a number of renewable energy development projects with a total capacity of approximately 600 MW.
It was in recognition of projects such as this, which contribute to the strategic and long-term development of Japanese infrastructure, that ADFIAP has conferred this award.
In line with its corporate philosophy of "Designing the Future with Financial Expertise," DBJ will continue to actively support its clients' efforts to develop markets for growth capital, revitalize local economies, and build competitiveness.
ADFIAP
Official name Association of Development Financing Institutions in Asia and the Pacific
Establishment October 1976 (Headquarters: Manila, Philippines)
Member 87 institutions in 36 countries and regions
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