Japan, reeling from the after-effects of the Great
Earthquake earlier this year, has a renewed focused on
infrastructure, especially that relating to renewable energy.
Hiroaki Takahashi of Davis & Takahashi
outlines two key legislative changes that could make a big
difference to the investment climate.
Two bills having a positive impact on the
future development of infrastructure in Japan, including the
development of renewable energy power generation facilities, were
passed by the Diet [legislature] this year. Coincidentally, both of
them were approved by the Cabinet on March 11, 2011, hours prior to
the Great Eastern Japan Earthquake that occurred later the same
day.
One is the amendment bill (the "PFI Amendment") to the
Act on Promotion of Private Finance Initiative (the "PFI
Act") which was enacted in June 2011 and will become effective
by December 2011. The other is the Act on Special Measures
Concerning Procurement of Renewable Electric Energy by
