Mitsui & Co., Japan's second- largest trading company, and Electric Power Development Co. will invest in a ¥10 billion ($85 million), 48-megawatt wind power project in Poland.
Mitsui & Co. and J-Power, as Electric Power is also known, will each take a 45% stake in a company set up to develop the project in northern Poland, the Japanese trader said in statement today. Swiss developer WFL Windfarmer AG will take the remaining 10% stake, Mitsui said. The three companies will invest a combined 2 billion ($17 million) in equity, the statement said. The project will start generating power from February 2008, with full operations scheduled in July 2008, Mitsui said. The companies will sell all the power generated to Koncern Energetyczny ENERGIA SA., Mitsui said. (Bloomberg)