Sonnedix selects EPC contractor and closes financing for 30MW PV plant in Japan

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Sonnedix's 2.27MW Hokuto A plant in Japan. Source: Sonnedix

IPP Sonnedix, operating via its Japanese operator, Nippon Solar Services (NSS) has closed financing and selected an EPC contractor for its 30MW Miyako-based mega solar PV plant in Iwate Prefecture.

NSS officially secured project financing with Shinsei Bank for a total sum of ¥10.7 billion (US$104 million).

“As arranger and lender, we’re delighted to take part in the financing of the Project and find it a privilege to work beside NSS and Sonnedix,” said Takatoshi Hibino, general manager of Shinsei Bank project finance division. “Acknowledging the growth potential in mega solar development within the renewable energy field, we have and continue to proactively arrange domestic PV project financing. We’re very pleased to collaborate with NSS and Sonnedix, and look forward in the development of our relationship together with our respective businesses in Japan”.

On the EPC front, NSS has contracted out to Japan’s largest residential construction company, Daiwa House Industry Co, who will also be responsible for the interconnection and commissioning of the plant.

“I’m incredibly pleased with the progress that NSS is making on the development of projects in Japan,” said Andreas Mustad, CEO of Sonnedix, in a statement. “I’m equally as proud of the strong partnerships they are building with such reputable Japanese companies to finance, build and operate our pipeline of mega solar plants. I look forward to seeing these partnerships flourish as we make further long-term investments in the Japan market”.

Construction of the Yamada-Cho plant is scheduled to begin at the end of this year. It is expected to be operational in early 2019 and will be managed by NSS.

This is the latest addition to Sonnedix’s portfolio – which consists of more than 200MW of PV plants in operation as well as several hundreds of MW in development across Europe, Puerto Rico, Thailand, Chile, South Africa and Japan.

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.
PV Tech Premium
March 31, 2021
As the solar industry continues to mature and adopt more merchant-led business models, how will asset management principles need to adapt? This exclusive recording of a panel discussion from our Solar Finance & Investment Europe event answered that very question.
March 30, 2021
A round-up of project updates from across the global solar industry, including updates from Israel's Shikun & Binui, independent power producer Sonnedix and UK-based Hive Energy.
March 4, 2021
Spanish energy company Iberdrola has added 750MW of solar PV capacity to its development pipeline.
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.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021