PANews reported on January 4 that according to Ledgerinsights, Japan's Mizuho Securities has partnered with Blue Sky Solar to provide funding for solar companies through private security token issuance (STO). In Japan, the issuance of security tokens by institutions is quite common, but mainly real estate tokens and one or two digital bonds. Mizuho said this is Japan's first tokenized infrastructure private equity fund.
The tokenization is related to the revenue of a limited liability company (LLC) that has acquired eight solar power generation facilities with a generating capacity of 9.5 MW, which can power approximately 9,000 homes. Blue Sky Group has a long history in this field, having managed 376 projects with a total generating capacity of 318 MW.
While Japan has adopted tokenization to reduce management and costs, the structure of this investment involves two entities. Blue Sky Asset Management manages the assets of the limited liability company, but the interests in the tokens are invested through a limited partnership. Mizuho said that the tokens can only be transferred if the token holder requests it and the token issuer approves it.
The issuance used BOOSTRY’s iBet for Fin tokenization platform, which was founded by Nomura Securities. This is the second most popular digital securities blockchain network in Japan, and Progmat is the leader. Ironically, Mizuho’s parent company is an investor in Progmat. Meanwhile, a year ago, iBet for Fin was used for another sustainable token issuance, namely the green bond issued by Hitachi.
