Sky Solar Japan, the Japanese subsidiary of Chinese solar developer Sky Solar, has successfully connected two PV plants with a combined capacity of 2.3MW to the grid.
One PV facility is located in Otsuka-cho, Tochigi Prefecture, Honshu Island, and was connected on 15 March. The other plant has been built in Kamishihoro-cho, Hokkaido and was connected to the grid on 30 March. In total, the plants will generate an estimated 2.53 million kWh of electricity every year.
Sky Solar reveals that data from monitoring the plants collected since the start of their operation shows that the generation capacity is 15% higher than expected.
Both projects are also eligible for the Japanese feed-in tariff of ¥42 (US$0.43) per kWh over a 20-year period.
The two projects are part of Sky Solar Japan’s 10MW project pipeline which is currently under construction. In April and May, Sky Solar Japan will seek to connect another 4 PV projects which are currently under construction. Moreover, in May Sky Solar will invest and begin the construction of another 30 PV power projects in Japan.
Sky Solar has also created a new localised financing model for its projects in Japan. This model is different from the traditional financing models it uses for solar projects elsewhere around the world.
Weili Su, Chairman of the Sky Solar Group comments: “the Japanese solar market has transparent rules, a clear division of labor, high capital mobility and low financing costs. All of these factors make Japan the perfect IPP market for renewable investments. The success of Sky Solar’s PV projects in Japan has a far-reaching effect not only locally in Japan, but as a significant milestone for the entire Sky Solar Group. Sky Solar has developed a new financial model and has now set an example for Sky Solar’s investment and financing in other regions of the world as well. Sky Solar has proven itself and is delighted with the recognition we are receiving for the secure, reliable and high value investment of our solar power assets. Sky Solar hopes to continue working with ambitious and motivated people from all industries to promote the development of renewable energy!”