Solar energy solutions provider Solar Frontier announced that it has sold its 2MW Kunitomi Megasolar power plant in Miyazaki, Japan, to a trust account operated by Mitsubishi UFJ Trust and Banking Corporation (MUTB).
The deal was signed off on 24 February 2015 and includes the acquisition of all linked facilities, contractual positions, rights and obligations in regards to the plant. Kunitomi Megasolar was the first megasolar power plant owned and maintained by Solar Frontier.
Despite agreeing to the transaction, Solar Frontier will still be linked to Kunitomi Megasolar as the plant’s operations and maintenance (O&M) provider.
Solar Frontier has been an active player when it comes to providing solar energy solutions in Japan, with the company developing and selling CIS thin-film PV modules while also building and maintaining megasolar power plants. The company also sells electricity as an independent power producer (IPP) with an option to sell off completed power plants to potential investors.