German investment service company Aquila Capital has made an investment on behalf of institutional investors in a new solar photovoltaic (PV) park in the north of Japan.
Located in Hokkaido, the project will be Aquila Capital’s second investment in the country. Being one of the largest PV plants in Japan, it will be equipped with an integrated energy storage system, which will help stabilise the grid.
Aquila Capital's chief executive officer and co-founder Roman Rosslenbroich said: “In addition to the very mature PV markets in Europe, Japan has established itself as an attractive target region for professional investors in this sector.
“We are examining further investment opportunities in this evolving market.”
With an installed capacity of 38.4MWp, the new project will benefit from a 20-year feed-in tariff of JPY40 ($0.34) per kilowatt hour (kWh). While construction commenced in July this year, the new park will be connected to the grid in 2018.
Located in the lowlands, the project site has very little shading, which makes it suitable for solar PV installations. The new plant will feature solar modules from Chinese PV company Jinko Solar and power inverters from Japanese electrical equipment company Fuji Electric, which will also serve as an engineering, procurement, and construction (EPC) and OM contractor for the park.
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The plant was developed jointly by renewable energy company Green Power Development of Japan and the local asset manager GI Capital Management.