NORD/LB Norddeutsche Landesbank has presented a study on the devel-opment of Japan, this year's partner country to CeBIT Hanover. According to the study, Japanese Prime Minister Shinzo Abe's Abenomics has once again made a success model of the Japanese economy and established a foundation for sustainable growth. In 2016, GDP (Gross Domestic Product) in Japan grew by 1.0 per cent, led by a strong domestic economy as well as increasingly strong exports. In 2017, the Japanese economy is expected to grow by 1.4 per cent.
The study also indicates that Japan has been able to successfully increase its renewable energy capacities in recent years, and will expand these fur-ther in the future. Electricity reform measures have been put in place to in-crease the overall share of renewable energies to 24 per cent by 2030, a sevenfold increase compared with 2013. The largest portion will be provid-ed by hydroelectricity, with nine per cent, and solar power, with seven per cent of the total. After China and Germany, Japan now ranks third in the world for the production of solar power, with a total capacity of just over 34 gigawatts (GW).
"Like other Asian countries, Japan has a considerable need to expand its energy infrastructure. It is precisely in this sector that many of our German and European customers see great business potential, and we, with our many years of expertise in the field of renewable energies, are equipped to advise and assist them," says Dr. Hinrich Holm, Deputy Chairman at NORD/LB, who is responsible for the bank’s business in Asia. With 100 em-ployees, NORD/LB is already the leading German regional bank (Landes-bank) in Asia and enables business transactions, among other things, to be conducted in Japan. NORD/LB was instrumental in a recent transaction concluded for Saferay, a German solar energy producer, which enabled fi-nancing for the construction and operation of a solar power plant that opened in early March in Hokkaido, Japan's north island. The financing amounted to around € 28 million. The solar park has a total output of about 10 megawatt peak (MWp). It was connected to the grid in February and has since then provided over 2,700 homes with electricity.
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Country View Mar/2017: „Japan: Erfolgsmodell Abenomics und Energiepolitik im Wandel“ (German)
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About NORD/LB
With total assets of EUR 178 billion, NORD/LB Norddeutsche Landesbank is one of Germany's leading merchant banks. Its core business segments include structured finance in the energy and infrastructure sector, ship and aircraft finance, corporate client business, commercial real estate finance, capital market business and private and commercial client business. The bank has headquarters in Hanover, Braunschweig and Magdeburg as well as offices in Düsseldorf, Hamburg, Munich, Schwerin and Stuttgart. Outside Germany, NORD/LB is active in Luxembourg with a covered bond bank (NORD/LB Covered Bond Bank) and also has offices in London, New York, Singapore and Shanghai.
