JRE ‘diversifying financing’ for 200MW solar in Japan

Facebook
Twitter
LinkedIn
Reddit
Email
Japan today also released new feed-in tariff (FiT) rates for solar PV. Credit: Flickr/Gaku

Tokyo-headquartered developer Japan Renewable Energy Corporation (JRE) has partnered with a subsidiary of Sumitomo Mitsui Finance & Leasing (SMFL) for three solar PV projects with a combined total of 200MW capacity that are under construction in Japan's Kumamoto and Kagoshima prefectures. 

The joint investment partnership is a way of JRE diversifying its financing methods as it seeks future growth in large-scale renewable energy projects. The move comes during a period of downturn in the large-scale solar space in Japan, where the government's attempts to attract large PV capacities at lower costs through an auction system have backfired with only very small projects taking part. Utility-scale developers are also facing interconnection constraints and rising costs.

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

In the past SMFL has provided a variety of financial services, including leasing and project finance, to renewable energy businesses across solar, wind, and biomass power generation. Its subsidiary, SMFL MIRAI Partners, which was established in April 2019, is strategically focused on renewable energy investments. 

The firm is now partnering JRE on the nearly 80MW Yamato Takamori Solar Power Plant, located at Yamato-cho, Kamimashiki-gun, and the 62.5MW Aso Takamori Solar Power Plant at Takamori-cho, Aso-gun. Both these projects are in Kumamoto Prefecture and are due to start operations in August 2022.

Meanwhile, a third joint investment project, the 54MW Satsuma Solar Power Plant at Satsuma-cho, Satsuma-gun, in Kagoshima Prefecture, is due to come online in January 2023. Construction of all three projects began between August and October last year.

At 200MW total capacity, their annual power generation is 235.7 million kWh, which JRE claims to be equivalent to the annual power consumption of around 53,600 households. 

JRE is the main developer of the projects, which are to be operated by its O&M arm JRE Operations. The firm has developed roughly 50 solar, wind and biomass power plants in Japan and it has a number of other large-scale projects under development including offshore wind power generation.

In related news, Japan today also released new feed-in tariff (FiT) rates for solar PV.

Last week, JRE also joined a list of 221 signatories from the Japan Climate Initiative, who submitted a statement to the Japanese government named 'Calling on the Japanese government to enhance its NDC' regarding its Nationally Determined Contributions (NDC) that includes the greenhouse gas emissions reduction target towards 2030.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 6, 2025
US utility AES Corporation is reportedly in discussions to be acquired by Global Infrastructure Partners (GIP), a subsidiary of global asset owning giant BlackRock.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.
October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.
September 29, 2025
German renewables developer ABO Energy is looking to begin owning and operating its energy projects in a transition from a “pure play” developer to an independent power producer (IPP) model.
September 26, 2025
Residential solar and energy storage could meet all the projected demand from US data centres over the next five years if tech companies invest in household energy infrastructure.
September 25, 2025
Italian energy utility Enel has issued a US$4.5 billion (€3.8 billion) bond seeking investment from “US and international” investors.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland