Pattern Energy to acquire 206MW pipeline of PV, wind projects in Japan

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Due to this transaction, Pattern Energy’s operating portfolio was boosted to nearly 4GW of gross capacity. Image: Pattern Energy

Pattern Energy Group made its move to enter into the renewable-energy sector in Japan, as the company has signed off on a number of transactions to acquire 206MW of PV and wind projects from Pattern Energy Development and Green Power Investments.

Mike Garland, CEO of Pattern Energy, said:  “Japan is one of the largest electrical grids in the world and has one of the most robust renewable energy markets. Under the Feed-in Tariff power contracts, these initial projects average ¥25,340 per MWh.

“GPI's development pipeline consists of 2.4GW of projects, including 600MW of wind capacity which have qualified for FiT contracts. Additionally, we believe that as we grow our portfolio, we will be able to enhance our economics over time with the use of local, low cost capital.”   

Due to this transaction, Pattern Energy’s operating portfolio was boosted to nearly 4GW of gross capacity — with the 206MW project pipeline consisting of two PV projects (Futtsu Solar, Kanagi Solar), one operating wind project and two wind projects currently under construction.

The cash purchase price for the five renewable-energy projects is approximately US$325.5 million.

Located just outside of Tokyo in Chiba prefecture, the 29MW Futtsu Solar project features Kyocera solar panels and started commercial operation in the first quarter of 2016. It operates under a 20-year power purchase agreement with TEPCO Energy Partner, a retail division of parent company Tokyo Electric Power Company Holdings.

The 10MW Kanagi Solar Project also features Kyocera solar panels and is located in Shimane prefecture.  It also started up operations in the first quarter of 2016 and is run under a 20-year power purchase agreement with Chugoku Electric Power Company.

Read Next

PV Tech Premium
May 10, 2021
Andy Colthorpe takes a look at what’s happening and what’s expected to happen in the Japanese large-scale PV market, with data and analysis courtesy of RTS Corporation and interviews with Vena Energy Japan, Sonnedix Japan and Baywa Japan.
May 7, 2021
German agriculture group BayWa has said its renewables business saw an “unusually strong” start to the year, driven by high demand for solar modules and the sale of a PV plant in Japan.
April 15, 2021
Renewables firm Pattern Energy has formed a joint venture (JV) with independent power producer Talen Energy that will develop 1.4GW of utility-scale solar and wind projects in the US over the next five years.
February 17, 2021
Canadian Solar has raised JPY22 billion (US$208 million) for its Japan Green Infrastructure Fund (JGIF), which will develop and accumulate solar projects in the Asian country.
February 1, 2021
Panasonic has announced plans to withdraw from manufacturing heterojunction (HJT) cells and modules with the closure of its manufacturing plants in Malaysia and Shimane Prefecture, Japan.
January 7, 2021
Private equity giant will invest US$374 million in solar and battery energy storage developer Amp Energy.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021