GE Energy Financial Services invests in 32MW PV plant in Japan

Facebook
Twitter
LinkedIn
Reddit
Email

Financing company GE Energy Financial Services is set to invest in a 32MW PV plant located in Okayama, Japan. The plant, known as Kumenan, was developed by Pacifico Energy and will be completed in 2016. 

The financial move is part of GE Energy Financial Services' plan to invest more than US$1 billion annually in renewable energy projects around the world. So far, the company has made investment commitments of US$1.8 billion in more than 1GW of PV projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Financing Kumenan was made possible through a non-recourse project finance basis and also due to a JPY ¥11 billion (US$107.2 million) loan from The Bank of Tokyo-Mitsubishi UFJ and The Chugoku Bank Ltd.

Once operational, Kumenan will sell its generated power to a regional utility through a 20-year power-purchase agreement (PPA) after receiving approval from the Japanese Ministry of Economy, Energy and Industry.

Pacifico Energy, a subsidiary of Virginia Solar Group, will provide both management and operation services at the plant. Toyo Engineering Corporation will construct Kumenan, while its PV modules will be supplied by Yingli Green Energy.

Kazuomi Kaneto, president of Pacifico Energy, said: “To maximize our project development expertise and free up capital, we partner with experienced investors like GE Energy Financial Services, which can offer flexible financial structures, strong bank relationships and technical know-how to help enable certainty of execution.”

Pacifico Energy is remaining active this year, as the company in intends to construct four projects worth a combined output of 200MW.

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.
October 9, 2025
The Australian government has announced the results of the fourth Capacity Investment Scheme (CIS) tender, with 6.6GW of renewables awarded long-term contracts.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK