Image of Sano completed Solar PV plant

Sonnedix 41.6 MW Sano solar PV plant reaches financial close and enters construction

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Tokyo, Japan – Sonnedix Japan K.K. (Sonnedix Japan) has reached financial close on a Yen 16.5 billion non-recourse financing with Sumitomo Mitsui Banking Corporation (SMBC) for the 41.6 MW Sano solar PV plant, on behalf of the Sonnedix group of companies (Sonnedix).   

Sonnedix, one of the leading players in the Japanese solar market, currently has more than 160 MW of capacity in construction managed by Sonnedix Japan.  The 41.6 MW Sano plant, located in the Tochigi prefecture, will become the group’s third largest in country when operational and marks further progress towards the over 400 MW expected to be delivered into operation over the next few years.

Andreas Mustad, Sonnedix CEO, said:

“The scale with which we are growing our global platform is exemplified by the pace of progress in Japan. Whether we build or acquire a PV plant, we are committed to optimize each investment for the long-term.”

The EPC contractor, juwi Shizen Energy Inc, has begun construction of the Sano solar plant, which is expected to start operation in late 2020. When completed, the solar plant will generate approximately 45,000 MWh of clean electricity per annum, equivalent to the amount consumed by approximately 15,000 households and will avoid the emission of circa 30,000 tons of carbon dioxide per year compared to conventional power generation.

 

About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, including over 700 MW of photovoltaic power plants in operation, as well as several hundred MW under development, in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan.
For more information, please visit www.sonnedix.com

About Sonnedix Japan

Sonnedix Japan is a developer, asset manager, and operator of mega-solar projects in Japan, and the Japanese operator for investments made by Sonnedix (www.sonnedix.com). 
Click here for more information about Sonnedix Japan

About juwi Shizen Energy Inc.

juwi Shizen Energy is an international joint venture established in January 2013 by Shizen Energy Inc. and juwi AG – a German company which is a world leader in wind power, photovoltaic development, and EPC. As of February 2018, juwi Shizen Energy has completed EPC projects for photovoltaic power plant with a combined output of approximately 155 megawatt in 57 locations around in Japan.
For more information, please visit  www.shizenenergy.net/corporate/group/juwi-shizen-energy.html

 

Media enquiries: infojapan@sonnedix.com

Sonnedix reaches financial close for the 46.6 MW Tono solar PV plant with MUFG Bank

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Tokyo, Japan – Sonnedix Japan K.K. (Sonnedix Japan) has reached financial close on a YEN 13.9 billion non-recourse debt facility with MUFG Bank, Ltd for the 46.6 MW Tono solar PV plant, on behalf of the Sonnedix group of companies.

This significant milestone comes less than a year after the project was acquired from its previous owners in June 2017, bringing Sonnedix’s total capacity in operation or under construction in Japan to 169 MW.   Assets in Japan are acquired or built and operated on behalf of Sonnedix by its operating partner, Sonnedix Japan, and this is a further step in the Japan growth strategy, which is on track to deliver over 400MW into operation in the next few years.

“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”, commented Andreas Mustad, Sonnedix CEO. “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, NEC Networks & System Integration Corporation, has begun construction of the solar plant, which is expected to start operations in early 2020. When completed, the solar plant is expected to generate over 53,000 MWh of clean electricity per annum, equivalent to the amount consumed by approximately 17,650 households.

About Sonnedix
Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, including over 700 MW of photovoltaic power plants in operation, as well as several hundred MW under development, in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan. For more information, please visit www.sonnedix.com

About Sonnedix Japan
Sonnedix Japan is a developer, asset manager, and operator of mega-solar projects in Japan, and the Japanese operator for investments made by Sonnedix (www.sonnedix.com). Click here for more information about Sonnedix Japan

About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with over 1,800 locations in more than 50 countries. The Group has over 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit www.mufg.jp/english

About NEC Networks & System Integration Corporation
NEC Networks & System Integration Corporation (TSE: 1973; NESIC) provides integrated communication services that combine the strengths of system integration and related support services, as well as sophisticated engineering and facility management capabilities, for a broad range of customers, including telecommunications carriers, enterprises and government agencies. For more information, please visit www.nesic.co.jp/english

 

Media enquiries: infojapan@sonnedix.com

 

Sonnedix’s Suwa solar PV plant inauguration marks key milestone in commitment to Japanese market

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FOR IMMEDIATE RELEASE

Suwa City, JAPAN

For further information please contact infojapan@sonnedix.com

Sonnedix’s 46.8MW Nagano Suwa Golf Megasolar PV plant was officially inaugurated in the Nagano prefecture at an event jointly hosted by Sonnedix Japan and construction partner JFE Plant Engineering (f.k.a. JFE Electrical & Control Systems, Inc). In attendance were key project partners, leaders from the renewable energy sector and community representatives. During a traditional ceremony, guests celebrated the successful completion of the project, its economic and social impact in the local community and Sonnedix’s long-term commitment to the Japanese market. The ceremony was also an opportunity to thank all parties involved for their support in bringing the solar plant to completion.

“It is an honour to celebrate the formal opening of Suwa solar PV plant. This ceremony marks the beginning of the operations phase for the plant during which we will be working closely with our partners and the local community. This achievement is an important step in our in-country growth and expansion strategy which will result in the company investing over $1.5 billion in the next few years, effectively making Sonnedix one of the leading players in the Japanese solar market” commented Andreas Mustad, CEO of Sonnedix.

Located in Suwa City, in the Nagano prefecture, the solar plant is expected to generate 57,000 MWh of electricity per annum which is equivalent to the amount consumed by approximately 14,250 households. Electricity generated by the solar plant is sold to Chubu Electric Power Co Inc. Engineering, procurement and construction services were provided by JFE Plant Engineering. During the construction 143,080 solar panels manufactured by SunPower and 22 inverters manufactured by TMEIC were installed on the 127 ha of land previously used as a golf course.

This inauguration marks a key milestone in Sonnedix’s commitment to the Japanese market. The Suwa solar PV plant is the first of a number of the company’s large-scale investments at various stages of development or construction. Sonnedix Japan expects to deliver these over the next few years taking its operational capacity in Japan to over 400MW.

As part of its commitment to the local communities, Sonnedix Japan and its partners have provided financial support to clear and rejuvenate the Zazensonosato neighbouring park including repairing a walking trail, re-building a fish pond and installing new signage. In addition, the access road to the park and to the solar PV plant will be equipped with solar street lighting.

 About Sonnedix Japan

Sonnedix Japan is a developer, asset manager, and operator of mega-solar projects in Japan, and the Japanese operator for investments made by Sonnedix. For more information about Sonnedix Japan, please visit www.sonnedix.jp

 About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, including over 600 MW of photovoltaic power plants in operation, as well as several hundred MW under development, in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan. For more information, please visit www.sonnedix.com

 

Sonnedix Japan K.K. announces first drawdown of senior debt facility for the 33 MW Yamada project and the acquisition of 46 MW Tono project in the Iwate prefecture.

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FOR IMMEDIATE RELEASE

TOKYO, Japan

For further information please contact infojapan@sonnedix.com

 

Sonnedix Japan K.K. (Sonnedix Japan) has completed the acquisition of the 46 MW Tono Mega Solar PV project located in the Iwate prefecture, on behalf of the Sonnedix group of companies, an independent solar power producer, from SunPower Corp. (NASDAQ:SPWR). This acquisition consolidates Sonnedix’s position as a leading player in the Japanese solar market.

“The acquisition of the Tono project marks a significant milestone for Sonnedix, bringing our pipeline of solar PV projects in Japan to over 500 MW. Once fully built over the next few years, this pipeline will bring the total investment in the country to over $2 billion. Consistent with our global strategy, our plan is to build, own and operate these assets in the long run through our operating partner Sonnedix Japan, whilst continuing to look for opportunities to further grow our pipeline.” commented Andreas Mustad, CEO of Sonnedix.

Sonnedix Japan, has a team of over 40 dedicated professionals and over 500MW of utility scale solar photovoltaic (PV) projects under development, construction or in operation on behalf of Sonnedix.

Sonnedix Japan is also pleased to announce that it has proceeded with the first drawdown of the non-recourse senior debt facility from Shinsei Bank for the 33MW Yamada project, also located in the Iwate prefecture.  While construction on the plant began in April 2017, an official ground breaking ceremony was held on June 22, 2017 at the site. The power generated by the project will be delivered to regional utility company Tohoku Electric Power, with the installation expected to last for a minimum of 20 years.  Once the installation is completed in October 2019, the project will produce enough energy to power approximately 8,500 homes and will avoid the emission of 23,000 tons of carbon dioxide per year compared to conventional power generation.

“Yamada 33MW Project marks our first large scale project development in the Tohoku area where Sonnedix Japan, manages over 300MWs of projects under development (including the recently acquired 46 MW Tono project).  With our growing operating platform, development project pipeline and business scale, Sonnedix and Sonnedix Japan continue to be fully committed to the Japanese renewable energy market” commented Netoshi Kuriyama, CEO Sonnedix Japan.

Tono will be the third large-scale solar plant in Japan co-developed by SunPower.  The plant will use SunPower E-Series solar panels, which maximize the power generated on site by producing 45 percent more energy in the same amount of space compared to conventional solar panels.

 

About Sonnedix Japan

Sonnedix Japan is a developer, asset manager, and operator of mega-solar projects in Japan, and the Japanese operator for investments made by Sonnedix (www.sonnedix.com). For more information about Sonnedix Japan, please visit www.sonnedix.jp

About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix currently owns over 600 MW of photovoltaic power plants in operation as well as several hundred MW under development in Italy, France, Spain, USA/Puerto Rico, Thailand, Chile, South Africa and Japan. For more information about Sonnedix, please visit www.sonnedix.com

About SunPower

As one of the world’s most innovative and sustainable energy companies, SunPower Corporation (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower’s more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower Corporation has dedicated customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.

About Shinsei Bank

Shinsei Bank is a leading diversified Japanese financial institution providing a full range of financial products and services to both institutional and individual customers. News and other information about Shinsei Bank is available at http://www.shinseibank.com/english/index.html

 

Nippon Solar Services announces partnering with GSSG Solar for a 170MW expansion in Japan

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Nippon Solar Services announces partnering with GSSG Solar for a 170MW expansion in Japan

TOKYO, Japan – Nippon Solar Services (NSS) has partnered with GSSG Solar (GSSG) to deploy a 170MW portfolio of Solar PV plants, with 47MW under construction, and the rest currently under development.

The expansion continues to build on NSS’s position as one of the leading players in the Japanese solar market, with a strong local team and close to 400MW of utility scale solar photovoltaic projects under development, construction or in operation. NSS is the trusted Japanese operator for investments made by Sonnedix, an Independent Solar Power Producer majority owned by institutional investors advised by J.P. Morgan Asset Management.

“Since our establishment in 2013, Nippon Solar Services has been working towards building a long term sustainable renewable power business in Japan.  The partnership with GSSG will contribute to bringing our business to scale and further strengthening our position in the Japanese renewable market,” commented Netoshi Kuriyama, Managing Director of NSS.

“The announcement of a major expansion of our pipeline projects in Japan demonstrates our long-term commitment to the Japanese market, which once fully built, will bring the total investment in the country to over $1.3 billion” said Andreas Mustad, CEO of Sonnedix. “We are pleased to have formed a strategic alliance with an experienced industry player like GSSG and look forward to continued cooperation across jurisdictions”

GSSG and NSS have established a joint development framework to finalize the development and construction of these facilities for Sonnedix, while maintaining their obligations to the local project partners in and around each project site. The two companies have discussed continued collaboration in Japan and other geographies including the US.

“GSSG remains fully committed to this portfolio of projects alongside the NSS team,” said Tomakin Archambault, CEO of GSSG Solar LLC, “In Sonnedix we found a partner who shares a commitment to building solar projects for the long-term. We look forward to working alongside the NSS team to deliver these projects and to generate clean renewable electricity. The proceeds from the transaction will allow us to further enhance our footprint in Japan, and we remain committed to investing in more solar PV projects in the country.”

NSS was advised by Paul Hastings and Kanagawa International Law Office (legal), Vector Cuatro (technical), and KPMG (accounting / tax). GSSG Solar was advised by Morrison & Foerster and Nishimura & Asahi (legal) and KPMG (accounting / tax).

About Nippon Solar Services

Nippon Solar Services is a developer, asset manager, and operator of mega-solar projects in Japan, and the trusted Japanese operator for investments made by Sonnedix (www.sonnedix.com). For more information about NSS, please visit sonnedixjp.dev

About Sonnedix

Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. For more information about Sonnedix, please visit www.sonnedix.com

About J.P. Morgan Asset Management – Global Real Assets

J.P. Morgan Asset Management – Global Real Assets has more than $96 billion in assets under management and more than 400 professionals in 20 offices throughout the Americas, Europe and Asia Pacific, as of December 31, 2016. With a 45-plus year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions. For more information: jpmorgan.com/institutional/global_real_assets

About GSSG Solar LLC

GSSG Solar is a full-service solar investment firm comprised of a select team of experts with solar and financial service backgrounds. Each of its investments seek capital appreciation through select investments in high quality solar projects worldwide. GSSG Solar, LLC manages the General Partner of GSSG Solar Partners, LP, a solar-only investment fund anchored by Vision Ridge Partners. Its committed investors include family offices, institutions, and individuals. For more information about GSSG Solar, please visit www.gssgsolar.com

For further information please contact Hamir Patel on +44 203 544 4947 or hamir.patel@champollion.co.uk