First Solar gets loan facility to finance solar PV projects in Japan
First Solar has announced that Mizuho Bank was extending a low interest construction loan facility of up to US$33 Million (4 billion yen) in Japan to First Solar Japan GK to develop utility-scale solar power plants.
The financing will be available for funding construction of qualified projects in First Solar's development pipeline in Japan. First Solar will engage with Japanese companies to construct the projects.
The financing underlines First Solar's strong commitment to the development of Japan's PV utility-scale solar industry.
Jack Curtis, First Solar's Regional Manager for Asia Pacific said,
"The loan facility offering for PV utility-scale solar projects will further enhance Japan's ongoing efforts to reduce its dependency on imported fossil fuels. Mizuho Bank Ltd.'s support for First Solar's project development is expected to encourage further participation with more private investments in the PV utility-scale solar sector in Japan."
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced module and system technology. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today.
Country news
-
-
June 11, 2014
GE Energy Financial Services invests in Japan's renewable energy market
GE Energy Financial Services, a unit of GE, has invested in Kumenan, a 32MW solar photovoltaic power project in Japan, which is being developed by Pacifico Energy. Read more -
September 02, 2014
Mitsui & Co and Tokio Marine raise third solar investment fund
Mitsui & Co. Plant Systems, Ltd. has reached understanding with Tokio Marine Asset Management Co., Ltd. (TMA) concerning the joint planning of a third investment fund to undertake wide-ranging diversified investment in mega-solar projects in Japan, the total generating capacity is 25MW, and total fund amount is Yen 7.7 billion (US$74 million). Read more -
September 09, 2014
Etrion and Hitachi close project financing to build 34 MW solar projects in Japan
Switzerland-based Etrion Corporation and Hitachi High-Technologies Corporation announced in early September the planned construction of 34 MW of solar projects in Japan with financing arranged by Sumitomo Mitsui Trust Bank, Limited. Read more -
September 18, 2014
Hogan Lovells add energy finance Partner in Tokyo
Hogan Lovells has recruited partner Joseph Kim to join its Tokyo finance practice. Joe joined the firm on September 16th, as a partner in the Infrastructure, Energy, Resources and Projects (IERP) team. Read more -
October 06, 2014
Toyo Engineering and GE close financing for 231 MW solar power project
Kuni Umi Asset Management, GE Energy Financial Services and Toyo Engineering Corporation have invested in Japan's largest solar power project, a 231 MW facility to be built in Setouchi City, Okayama Prefecture, via SPC and representative member Setouchi Future Creations. Read more
