Renova commissions and takes ownership of 80.8 MW Karumai Eastern Solar PV project in Iwate prefecture

RENOVA, Inc. has carried out the acquisition of additional equity interests in the proprietors of the business under Karumai East Solar T.K., an equity-method affiliate of RENOVA, as announced on November 1, 2019.

The company has also launched the operation at Karumai East Solar Power Plant located in Iwate Prefecture. The project is built on about 300 hectares of hilly, wooded land in Karumai City. It has an estimated annual power generation of some 87 million kWh, enough to meet the energy consumption of roughly 25,000 homes.

Following the conclusion of an agreement on the transfer of equity interest, Renova will own a total of 69.25% stake in the solar farm, leaving 10.25% each for NEC Capital Solutions Limited, Fuyo General Lease Co., Ltd. and Sumitomo Mitsui Finance and Leasing Company, Limited.