Mitsubishi Research Institute to Set Up Solar Fund With Partner

Mitsubishi Research Institute Inc. plans to set up a solar fund with Mitsubishi UFJ Morgan Stanley Securities Co. to help push ahead projects that have been slow to develop.

Mitsubishi Research will be in charge of asset management for the fund and help select solar power plants, the company said in a statement Tuesday. The security firm will solicit investors. Financial terms weren’t disclosed.

The fund will total about 50 billion yen ($426 million), the Nikkei newspaper reported without saying where it got the information.

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

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