GSSG to acquire 350 MW of PV in Japan

“GSSG will invest in the acquisition and financing of an incremental $1 billion of Japanese megasolar plants over a three-year investment period,” the company said in an online statement.

“(Our) asset-based, fundamentals-driven approach to solar investing relies on the decades of solar project investment experience of (our) managers that enables (us) to quickly evaluate and commit to a project’s full capital needs during various stages of development and provide active engagement through the lifecycle of the project.”

Denver-based GSSG – which was established in early 2013 – sees Japan as a key part of its global business. The group launched its first investment fund in 2014, when it closed financing on an aggregated, 4.75 MW (DC) PV portfolio in the Denver area.

In May 2016, GSSG Solar closed financing with Shinsei Bank on its first utility-scale solar project in Japan. The 47 MW array in Suwa, Nagano prefecture, was part of a 170 MW portfolio in the country, due for completion by the end of this year.

In February of this year, solar developer Sonnedix agreed to work with GSSG Solar on that batch of projects, via its local partner, Nippon Solar Services.

Tokyo-based Nippon Solar Services is currently building 219.2 MW in Japan, according to a statement on its website.