Last year, a small town in western Japan tried to introduce the nation’s first ever tax on solar panels. The plan failed, but attempts to increase the fiscal burden on renewables operations have not. More and more Japanese municipalities are keen to introduce taxes on solar and wind operators, both to earn income and control their development. Why?
Date: Sept. 14 (Thursday)
Time: 17:00 – 18:00 JST
Speakers: Yuko Inui, partner and member of the Energy and Infrastructure Group at Orrick Herrington & Sutcliffe LLP,
Japan NRG Senior researcher Mayumi Watanabe and Founder Yuriy Humber
After a decade of robust construction, Japan has become the world’s third-biggest operator of solar capacity. The boom, however, is starting to slow as the rapid development has raised concern about the impact on local communities and the environment.
One way that Japanese localities are seeking to control the situation, and earn additional income in the process, is through new taxes that target renewables projects. The latest — and biggest such initiative to date — was announced recently by Miyagi Prefecture in northeastern Japan.
The tax on solar and wind operators sought by Miyagi lawmakers will almost certainly kill off some of the renewables projects in the area. And while the tax has yet to receive approval at the national government level, the impact could be vast.
In this webinar we will review:
– Details of the Miyagi tax plan and its immediate, local impact
– Rationale behind this initiative and similar proposals around the country
– National impact from the development
– Measures renewables operators can take to minimize risks
There will be time for Q & A at the end.
Yuko Inui is a partner and member of the Energy and Infrastructure Group at Orrick Herrington & Sutcliffe LLP/ Orrick Tokyo Law Offices. Her practice mainly focuses on the development, project financing and secondary transaction of renewable energy projects, including offshore/ onshore wind and solar projects, as well as related permits and real estate work. Yuko has been appointed as a special member of the Environmental Preservation Committee of the Japan Federation of Bar Associations every year since 2006.
Mayumi Watanabe is the senior policy researcher at Japan NRG. She has deep experience in covering the agriculture, raw materials and energy commodity space, as well as competition issues in Japanese markets.
Yuriy Humber is the founder and chief editor of the Japan NRG platform. Yuriy is also a columnist on energy issues for the Nikkei Asia and co-author of an economic research report on Japan by the American Chamber of Commerce in Japan (ACCJ).