Renova acquires 21.6 MW PV plant in Mie

RENOVA, Inc. decided and implemented the acquisition of an additional equity interest held by Fuyo General Lease Co. Ltd. (FGL) under Yokkaichi Solar silent partnership contract, an equity-method affiliate operating Yokkaichi Solar Power Plant located in Yokkaichi-shi, Mie Prefecture, Japan. The facility has a generation capacity of 21.6 MW. The operation of the facility just started today. RENOVA’s equity ownership in Yokkaichi Solar will increase to 100% with the acquisition, and Yokkaichi Solar will become a consolidated subsidiary of RENOVA.

Yokkaichi Solar Power Plant is the 8th large-scale solar power plant developed by Renova in Japan. During its development, an environmental impact assessment was carried out in accordance with the Mie Prefectural Ordinance on Environmental Impact Assessment over 21 months as the first solar power generation project in the prefecture to which said prefectural ordinance applied. Moreover, for the purpose of protecting rare species whose habitats were in the scheduled area for development, the initial design and plan of the development project were significantly altered and approximately 20% of the initially scheduled area for development was allocated for a biotope.

With the consolidation of Yokkaichi Solar, RENOVA aims to expand its earnings base and to grow as a power generation company in cooperation with local communities.