German alternative asset management firm Aquila Capital has completed a 38.4MW PV project in Japan and sold it to a local institutional investor for an undisclosed amount.
This is Aquila Capital’s second Japanese project and underlines the company’s continuing commitment to this market as it plans to continue to acquire early-stage PV projects of more than 150MW and development them until suitable for sale.
“This investment reflects the current outlook in the Japanese photovoltaic market,” said Boris Beltermann, responsible for Aquila Capital’s solar business in Japan. “Market-ready projects are particularly interesting for local institutional investors, so developing projects that already have secured feed-in tariffs is an attractive strategy for our investors.”
Aquila Capital secured an attractive FIT of ¥40/kWh (US$0.36/kWh) through the earlier acquisition of the property area on which the PV system was developed. The sale means that the company has achieved an Internal Rate of Return (IRR) of 11.6% after all expenses.
“As in Germany, the feed-in tariff is financed from electricity levies on electricity customers,” added Beltermann. “This creates stable, legal and economic conditions. In addition, Japan has a relatively high level of sunshine, which is comparable to southern Germany. These conditions have led to Japan being among the largest and most lucrative solar markets in the world next to the USA, China and Germany.
“Furthermore, compared to the approval processes in European solar markets, the development risk in Japan becomes comparatively low as soon as the land has been secured.”
Aquila will continue to assume O&M responsibilities for the park.
The present study analyses the levelized cost of electricity (LCOE) of PV utility-scale power plants in the first quarter of 2018. It compares different Jinko modules technologies and shows their future developments till 2020 based on technology and market scenarios. Speaker information: Roberto Murgioni holds a BSc in Electrical Engineering and a Masters of Renewable Energies Engineering. Roberto is responsible for the pre-sales and after-sales activities around Europe. Before Joining Jinko he held a variety of similar positions with Trina and ET solar. Prior to that he covered several roles in the engineering dept. starting in Milan and then Munich as a Project Electrical Engineer for various EPC companies, managing large PV power plant projects in EU and LATAM. If you have any questions you would like to direct to Jinko prior to the webinar, please send them through to Oliver Amos at Solar Media: email@example.com