Kyudenko holds a 40% stake in the project company, Renatosu Soma Solar Park, while Orix holds 30%, according to an online statement. Beltecno Energy has taken a 19.8% share, while Kyuden Mirai Energy holds 10%. Hokuto Denki Setsubi Kouji has taken the remaining 0.2%.
Hanwha Q Cells provided about 197,930 PV modules for the array, which was built on a 68.4-hectare plot of land. The site was damaged by the tsunami of March 2011 and is therefore no longer considered to be arable land. TMEIC — a Tokyo-based venture between Toshiba and Mitsubishi Electric — supplied the inverters, according to Japanese media reports. A unit of Kyudenko provided EPC services, while another group subsidiary will handle O&M.
Bank of Tokyo-Mitsubishi UFJ Ltd and The 77 Bank led three other lenders in arranging JPY 15.8 billion ($144.8 million) of financing for the project, which was first announced in July 2015. Japanese conglomerate Marubeni was initially involved in development of the site, which is just to the north of the crippled Fukushima Daiichi nuclear power plant.
Kyudenko has participated in the construction of a number of major solar projects in Japan over the years. Most recently, it announced plans to build 92 MW in southern Kagoshima prefecture by early 2020. It is also involved in a plan to install 430 MW of PV capacity on a remote island off the coast of Kyushu, in cooperation with Kyocera and Germany’s Photovolt Development Partners.