Sonnedix Japan K.K. has announced financial close on a JPY 14.2 billion (EUR 113.9 million) project financing with Sumitomo Mitsui Trust Bank, Limited for the 36.4MW Kurayoshi solar PV plant.
The 36.4MW Kurayoshi solar PV plant is located in the Tottori Prefecture. The 'Notice to Proceed' was issued to Maetel Construction Japan in November 2018 during the Ministry of Economy, Trade and Industry feed-in-tariff reduction proposal consultation. The Kurayoshi solar PV plant is expected to start operation in mid-2020.
"Achieving financial close for the Kurayoshi project is the latest milestone in our long-term commitment to the Japan market, and is testament to our confidence in achieving operational excellence for all our projects under the new governmental regulations announced in 2018," said Axel Thiemann, CEO of Sonnedix. "I look forward to continued growth as Sonnedix Japan actively seeks opportunities to acquire quality solar PV projects in all stages of development."
The Kurayoshi solar PV plant will use over 100,000 Hanwha 345Wp modules and 13 TMEIC central inverters. When completed, the plant will generate approximately 42,000MWh of clean electricity per annum, equivalent to the amount consumed by approximately 12,000 households.