Invenergy Japan GK has completed financing with the MUFG Bank and NEC Capital Solutions (NEC) for the Koumi Kogen Solar Energy GK project in Japan.
The completion of project financing further strengthens Invenergy and SB Energy’s partnership, which will see the joint development, financing, construction and operation of Koumi Kogen Solar Energy GK as well as Queens Solar Energy GK.
In April last year, Invenergy and SB Energy announced a partnership for the joint development of the two projects.
Set to be developed on a former golf course in Nagano Prefecture, the Koumi Kogen Solar Farm will have the capacity to generate 10.3MWdc of power once operational.
The Queens Solar Energy GK is located in Fukushima Prefecture and will have 9.2MWdc of capacity upon becoming operational.
By next year, both projects are expected to commence commercial operations.
Invenergy Structured Finance senior vice-president Meghan Schultz said: “This is Invenergy’s first project financing in Japan, which represents a significant milestone for us as an international developer of clean energy projects.
“We’re very pleased to share this achievement with SB Energy, one of Japan’s leading renewable energy companies and one with an outstanding reputation for excellence.”
Established in 2011, SB Energy has developed more than 650MW of solar and wind power projects in the region.
The partnership will combine Invenergy’s international experience with advanced, large-scale development with SB Energy’s domestic know-how accumulated through various solar projects in Japan.
Since 2013, Invenergy has been involved in the development of more than 250MW of solar and wind projects in Japan under the Ministry of Economy, Trade and Industry’s Feed-in-Tariff programme.