Japan: Wirsol and Greenpower Capital form joint venture06. December 2012 | Industry & Suppliers, Financial & Legal Affairs | By: Shamsiah Ali-Oettinger
Wirsol and Greenpower Capital have formed a joint venture to provide project finance, EPC and O&M to the Japanese solar market. The services are tailor-made to fit photovoltaic projects 10 MW and above.
Jeff Butler, President of Greenpower Capital says that they have been involved with project finance in the U.S., Ontario, Puerto Rico, the Dominican Republic, the U.K. and other feed-in tariff markets and the establishment of an office in Japan was the natural progression.
"We have found that project finance for plants larger than 10 MW can be very difficult to obtain in Japan. Together we will work on developing the solar sector to its full potential".
Co-founder and member of the executive board at Wirsol, Stefan Riel, sees finance as the bottleneck for photovoltaic projects in the megawatt scale in Asia Pacific. "Both the Japanese and the German PV market demand for the highest system quality and best performance. Teaming up with Greenpower Capital will allow us to partner with local developers to build mega-solar projects in Japan," he adds.
Head of renewable energy practice for Orrick, Herrington & Sutcliffe, LLP Yoichi Katayama says the alliance between Greenpower and Wirsol is being well received by the local Japanese solar developers.
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