Sonnedix Japan has reached financial close on a JPY16.5 billion (US$149 million) non-recourse financing with Sumitomo Mitsui Banking Corporation (SMBC) for the 41.6MW Sano solar PV plant in the Tochigi prefecture, Japan.
Sonnedix currently has more than 160MW of capacity in construction managed by Sonnedix Japan.
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Andreas Mustad, CEO of Sonnedix, said: “The scale with which we are growing our global platform is exemplified by the pace of progress in Japan. Whether we build or acquire a PV plant, we are committed to optimize each investment for the long-term.”
EPC contractor juwi Shizen Energy has begun construction of the Sano solar plant, which is expected to start operation in late 2020. When completed, the solar plant will generate approximately 45,000MWh of clean electricity per annum, equivalent to the amount consumed by approximately 15,000 households.
Sonnedix Japan also recently reached financial close on a US$126 million non-recourse debt facility with MUFG Bank for the 46.6MW Tono PV project.