Sky Solar signs LOI for sale of 152 MW solar assets in Japan

Share

The solar PV market in Japan remains healthy and a key market for investors to generate significant returns. This is evident in the consistent solar activity within the country, such as the announcement from solar developer Sky Solar Holdings that it has signed an LOI to sell various different solar assets from its subsidiary Sky Solar Japan.

The LOI has been signed with Solar Partnership Capital for 152 MW of solar projects in Japan that are either operating stage, under-construction, or ‘shovel-ready.’ The total purchase price has been set at JPY17 billion (US$165 million), subject to closing adjustments.

The LOI terminates on 31 August with the possibility for extension, as satisfactory due diligence is required before approval can be given by Solar Partnership’s investment committee. The company has said that proceed from the sale will be used to repay debts and the reinvest in solar projects in Japan.

“We are pleased to announce the potential sale of part of our solar asset portfolio in Japan,” commented Sky Solar Chief Investment Officer Sanjay Shrestha. “Through this transaction, we remain committed to the development of our remaining projects in Japan while also unlocking value from our 74 MW of completed solar projects and 78 MW of solar projects that have not yet been completed in Japan. With the cash proceeds from this deal, we intend to further invest in solar development projects in Japan and other key target markets that meet our investment resturn criteria.”

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.