SPI subsidiary, SPI Solar Japan G.K., has entered into a strategic partnership with Japan-based Uniroot to develop a PV project pipeline worth over 500 MW. Under the terms, SPI will hold no less than 51% equity interest.
Shanghai-based SPI has said it will undertake project funding, construction and equipment procurement, while Uniroot will be responsible for such matters as land purchase and lease, securing necessary permits, and obtaining power purchase agreements with local utilities.
No further details were released and SPI could not be contacted for comment.
In April, SPI announced it was set to acquire 30 MW of PV projects, also in Japan, across four prefectures. Under the agreement, SPI and Re Capital K.K., a subsidiary of China Reinsurance (China Re), also agreed to explore co-development opportunities of up to 100 MW of additional PV projects in the country, subject to finalization of the deal.
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