Shinsei Bank, Limited has arranged project financing for a large-scale solar power plant (“megasolar”) with a total generation capacity of approximately 19 megawatts. The plant is to be built on Hokkaido which is Japan’s second largest island..
This project financing is a collaborative effort undertaken together with Showa Leasing Co, a consolidated subsidiary of Shinsei Bank. Approximately 6 billion yen of the construction costs will be arranged and financed by Shinsei Bank as a syndicated loan, followed by 0.8 billion yen of financing by Showa Leasing after the construction is completed.
This project follows the megasolar in Atsuma-cho, Hokkaido, the first Watami Group venture into the megasolar business which was started in October 2013 by Watami in collaboration with Community Solar System.
A Special Purpose Company (SPC) funded by Watami Farm & Energy Co., Ltd., Watami’s 100% owned subsidiary, and Community Solar System will construct a megasolar on an approximately 35 hectare site in Mukawa-cho.
The commencement of plant operations is scheduled for March 2016.
About Gordon Smith Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.