Aquila Capital expands its PV portfolio with new investment in Japan

Aquila Capital has announced it has made an investment in a photovoltaic park in Tomakomai, Hokkaido in the north of Japan on behalf of institutional investors.

It is the company’s second investment in the country. The park will be one of the largest PV plants in Japan with an integrated energy storage solution that will help to stabilize the grid. Construction started in July this year. The photovoltaic park will have an installed capacity of 38.4 MWp once it is connected to the grid in 2018. The park also benefits from a 20 year feed-in tariff of JPY40 (US$0.34) per kWh.

The site is located in the lowlands, has very little shading and is therefore ideal for photovoltaic installations. It will be equipped with high quality Jinko Solar modules and Fuji Electric power inverters. Fuji is also an EPC and O&M contractor for the park.

The project was developed by Green Power Development Corporation of Japan, a company in renewable energy power generation in cooperation with GI Capital Management, which is the local asset manager.

During the building and operating phase, financing will be secured by Mizuho Bank, one of Japan’s major banks.

Boris Beltermann, who is responsible for Aquila Capital’s solar business in Japan, said:

“Solar PV in the renewables market in Japan has gained significant importance over the past few years. With our long-standing operational expertise in the photovoltaics sector and dedicated on-site partners, coordinated by GI Capital Management, we can operate close to the market, carefully examine investment opportunities to mitigate risks, identify attractive assets and manage them on behalf of our investors.”

Roman Rosslenbroich, CEO and Co-Founder of Aquila Capital, commented:

“In addition to the very mature photovoltaic 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.”

By the end of 2015, the total project volume of solar PV in Japan amounted to US$1.7 billion. In 2015, Japan was one of the world’s leading nations in the sector for the second year in a row, having added close to 10 GW of new solar PV capacity. Aquila Capital's latest investment in Japan increases the company’s track record to an installed capacity of 540 MWp.