Neo Solar Power subsidiary sells 14.68 MW solar project in Fukushima, Japan

General Energy Solutions (GES), a subsidiary of Taiwanese solar cell and module manufacturer Neo Solar Power (NSP), stated that it had completed the sale of its 14.68MW solar project in Fukushima, Japan, not disclosing the identity of the buyer.

According to the company’s release, GES transferred 100% of the Fukushima project shares on June 28, 2017 from its subsidiary Abacus to the solar project’s buyer, a Canadian clean energy company focused on the solar markets in Canada, the U.S., the U.K., Japan and India that currently owns nearly 2 GW of operational solar projects.

The construction of the Fukushima project, located in an area with high irradiation, was initiated in October 2015, with all the EPC duties handled by GES, and switched on in March 2017.

After the sale of the solar project, GES will remain present in the Japanese market through its solar projects in Wakayama, Ibaraki and Fukutsu. Moreover, the company’s Japanese pipeline remains substantial with 100 MW of solar projects, 50 MW of which are to be completed by the end of 2018.

According to the company’s release, GES holds an optimistic outlook on Japan’s solar market and will continue to put more resources and manpower into the country.

Earlier this year, its parent company NSP posted $206.9 million net loss in 2016, down from around $ 4.5 million net profit in 2015, which was attributed to idling of some of its production capacity in China, as well ongoing restructuring efforts.