Venti-Japan, C-TECH, and Mitsubishi Corp Join Forces to Launch 66MW Wind farm in Northern Japan
Venti-Japan, Mitsubishi Corporation and C-TECH CORPORATION have reached an agreement to launch a wind power generation project along the Akita City - Katagami City corridor of Akita Prefecture in Northern Japan.
The new windfarm ranks among the the largest in wind power generating capacity in the country.
The 66 MW (3MW wind turbine x 22 units) project will be executed by Akita Katagami Windfarm, LLC, a three-way joint venture established between Venti and Mitsubishi Corporation Power Ltd. (MCP), a 100% subsidiary of MC, and C-TECH. Construction is slated to commence in September 2016, with supply of power to Tohoku Electric Power Co., Inc. scheduled to come on stream in early 2019.
In terms of shareholder participation Venti will hold 51.0%, MC 43.9% and C-TECH 5.1% of shares. The project is estimated to cost around 20 billion yen (US$182.4 million).
Coastal areas of Akita Prefecture are among the best locations in Japan for wind power development and the prefecture has welcomed a number of windfarm projects over the past several years. This particular project is being developed under a public auction scheme set up by Akita to make use of the wealth of wind resources present in its forest reserves. The three companies are therefore seeking to take maximum advantage of these resources to develop and supply clean energy.
Country news
-
-
May 23, 2016
Sumitomo Corporation closes financing for solar project
Sumitomo Corporation will be implementing a solar power project in the Migita/Ebi and Mano districts of the city of Minamisoma in Fukushima Prefecture via Solar Power Minamisoma-Kashima Co., Ltd. Read more -
May 03, 2016
Nippon Life Insurance Company announces commitments to infrastructure
Nippon Life Insurance Company, together with its wholly owned subsidiaries Nippon Life Global Investors Americas, Inc. (NLGI Americas) and Nippon Life Global Investors Europe PLC (NLGI Europe), has set aside JPY 40 billion (US$375.5 million) for new commitments to infrastructure equity funds. Read more -
April 27, 2016
Trina Solar partners with GE Energy Financial Services for solar project in Japan
Trina Solar Limited, specialized in photovoltaic (PV) modules, solutions, and services, announced that it has partnered with GE Energy Financial Services (GE EFS) to invest in a 14 MW solar project in Ishinomaki, Miyagi Prefecture, Japan. Read more -
April 15, 2016
Japan Bank for International Cooperation announces renewables credit line for CAF
The Japan Bank for International Cooperation (JBIC) signed on April 8 a loan agreement to establish a credit line totaling up to USD100 million (JBIC portion USD50 million) with CAF –Development Bank of Latin America, for renewable energy and energy efficiency projects in CAF's shareholding countries in the Latin American and Caribbean region, under GREEN operations. Read more -
March 18, 2016
SMBC to sell project finance debt securities in Japan
Sumitomo Mitsui Banking Corporation (SMBC) has recently announced that it will create a new class of instruments to sell project finance debt securities in Japan. SMBC has sold interests in a solar power project-finance scheme to institutional investors. Read more
