Nippon Solar Services, closes JPY 10.7 billion financing for a 30 MW Mega Solar PV power plant
16 June 2016
Tokyo, Japan – For immediate release
On June 15th 2016, Nippon Solar Services (NSS) closed project financing with Shinsei Bank as a lender for a total amount of JPY 10.7 billion for a Mega Solar photovoltaic (PV) power plant with a total generation capacity of 30 megawatts (MW) located in the Iwate Prefecture in the Tohoku region.
“This is our first financial closing to date in Japan with a Japanese lender and a key milestone for our company. We want to thank all the parties involved in this transaction for their continued support and commitment.” commented Olivier Renon, Managing Director of NSS.
The commencement of plant construction is scheduled for late 2016 with operations starting in early 2019, both of which will be managed by NSS. Engineering, procurement and construction is being undertaken by Daiwa House Industry. Daiwa House Industry will also provide comprehensive O&M services during the operations stage.
“We have known Shinsei Bank for several years as a leader in the financing of renewable energy projects in Japan, with excellent experience and knowledge in this market. We are very pleased with this important milestone reached by our local management partner NSS and honoured to see the confidence and growing relationship with Shinsei Bank.” added Franck Constant, Member of the Board of Sonnedix, the majority investor in the project.
Takatoshi Hibino, General Manager of Shinsei Bank’s Project Finance Division stated, “As arranger and lender, we are delighted to take part in the financing of the project and find it a privilege to work beside NSS and Sonnedix. 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 are very pleased to collaborate with NSS and Sonnedix, and look forward in the development of our relationship together with our respective businesses in Japan.
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
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
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. Sonnedix currently owns over 200 MW photovoltaic power plants in operation as well as several hundreds of MW in development in Italy, France, Spain, USA/Puerto Rico, Thailand, Chile, South Africa and Japan. For more information about Sonnedix, please visit www.sonnedix.com