Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. are in a neck-and-neck race to be the biggest lead arrangers of lending to the renewable energy industry in the first half of the year, highlighting the more active financing role for Japanese banks in clean energy.

MUFG has the edge over Mizuho in writing project finance loans to clean-energy developers for the period, according to data compiled by Bloomberg New Energy Finance. As of Thursday, MUFG was credited with $1.697 billion (about ¥190 billion) of asset financing, compared with $1.662 billion for Mizuho, the BNEF data show.

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