Aquila Capital, a European asset manager with a growing portfolio of solar PV investments, has steered a three-digit million euro investment into a 38.4 MW solar PV plant currently under construction in Japan.
The solar farm is being built using JinkoSolar modules and Fuji Electric power inverters, and will comprise an integrated energy storage solution when it is completed in 2018. According to Aquila, it will be commissioned with a 20-year FIT of 40 JPY per kWh (approximately 35 euro cents/kWh).
The plant’s developer is Green Power Development Corporation of Japan, which has worked alongside local asset manager GI Capital Management to oversee its development. Mizuho Bank, one of the largest lending institutes in the country, has delivered the bulk of the financing for the installation, which will become one of the largest in Japan once complete.
"Solar PV in the renewable market in Japan has gained significant importance over the past few years," said Aquila Capital’s solar Japan head Boris Beltermann. "We can operate close to the market in Japan, carefully examine investment opportunities and mitigate risks."
The asset firm’s CEO Roman Rosslenbroich added that Aquila is examining further solar investment opportunities in Japan. Thus far, the company has a solar PV investment portfolio of 540 MW under its belt globally, with a large presence in the U.K. market.