Eurus Energy Holdings will receive a loan for ¥8.6 billion (US$108 million) from the Bank of Tokyo-Mitsubishi UFJ in order to construct a 30MW solar plant.
The plant will be built in Shiranuka Hokkaido, and represents one of the largest loans to be disbursed for a solar project in Japan. Construction on the plant is scheduled to be completed in March 2014.
Eurus Energy will sell electricity produced by the plant to Hokkaido Electric Power. It was noted that most of the loan, in costs for the plant, will be financed by Tokyo-Mitsubishi UFJ, Toho Bank and the Bank of Iwate.
The Asahi Shimbun reported that the agreement was signed on 31 October.