Chinese project developer SPI Solar has acquired the development rights for 30MW of PV in Japan.
Under the agreement its subsidiary SPI Solar Japan will purchase the projects from Re Capital, part of the reinsurance group China Re.
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The sites are in Kanagawa, Chiba, Ibaraki and Fukushima prefecture. Construction is expected to begin in May 2015 with grid connection anticipated in the first quarter of 2016.
An agreement to explore the potential co-development of as much as 100MW of further projects in Japan is also being discussed, but has not yet been finalised, the company said.
“Today's announcement marks an exciting expansion of our business activities in Japan, one of SPI's core markets,” said Xiaofeng Peng, chairman, SPI. “The agreement also marks the beginning of our strategic collaboration with China Re to explore new opportunities in the global solar PV market.”
Earlier this week SPI revealed it had acquired the rights to 50MW of sub-5MW projects in the UK.
