Sonnedix Japan reaches financial close for 46.6MW PV project

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Commercial operation for the project is expected in early 2020. Image: Sonnedix

Sonnedix Japan K.K. has reached financial close on a US$126 million non-recourse debt facility with MUFG Bank for the 46.6MW Tono PV project.

The financing deal comes less than a year after the project was acquired from its previous owners in June 2017, which brings Sonnedix’s total capacity in operation or under construction in Japan to 169MW.

Andreas Mustad, CEO of Sonnedix, said: “We are very proud of the Tono project milestone, which means Sonnedix now has over 200 MW of capacity in construction across our global platform. This is in parallel to the growth achieved over the last 12 months through the acquisition and integration of solar PV assets in other OECD countries. As our platform continues to scale, so does our commitment to its operational excellence in the long term.”

The EPC contractor for the project, NEC Networks & System Integration Corporation, has started construction on the site, with commercial operation expected in early 2020. Once completed, the installation is expected to generate over 53,000 MWh of clean energy annually.

Read Next

September 8, 2021
Sonnedix, Opdenergy and Canadian Solar were among the five successful bidders in Chile’s latest power auction, which took place yesterday (7 September) and will see the country support 2GW of renewables and storage installations.
September 8, 2021
Online retail giant Amazon has signed a 10-year corporate power purchase agreement (PPA) in Japan with Mitsubishi Corporation for the output from 22MW of solar PV plants. 
August 3, 2021
Solar developer Pacifico Energy has started building work on a 121MWdc solar project on the site of a former golf course in Japan, with juwi Shizen Energy hired as engineering, procurement and construction (EPC) contractor.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.
June 30, 2021
Japan’s eighth solar auction, for projects with a generation capacity of more than 250kW, has closed with bidders securing a total of 208MW.
June 28, 2021
Global IPP Sonnedix has acquired a 300MW solar PV portfolio from developer RIC Energy, with construction to start toward the end of 2022

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021