CHICAGO (July 17, 2018) – Invenergy, through its subsidiary Invenergy Japan G.K., today announced the completion of financing with the MUFG Bank Ltd. (MUFG) and NEC Capital Solutions Co., Ltd. (NEC) for Koumi Kogen Solar Energy G.K., the first of two large-scale joint solar projects in Japan. This represents the latest milestone of the Invenergy and SB Energy partnership that enables the joint development, financing, construction and operation of both Koumi Kogen Solar Energy G.K. and Queens Solar Energy G.K.
The Koumi Kogen Solar Farm is located on a former golf course in Nagano Prefecture, approximately 100 miles northwest of Tokyo, and will have 10.3 megawatt dc of capacity once it is fully operational. The project represents the first capital investment for the two companies under this partnership, and is expected to enter commercial operation in the summer of 2019.
“This is Invenergy’s first project financing in Japan, which represents a significant milestone for us as an international developer of clean energy projects,” said Meghan Schultz, Invenergy’s Senior Vice President of Structured Finance. “We’re very pleased to share this achievement with SB Energy, one of Japan’s leading renewable energy companies and one with an outstanding reputation for excellence.”
Since 2013, Invenergy has been advancing development of its pipeline in excess of 250 megawatts of solar and wind projects in Japan under the Ministry of Economy, Trade and Industry’s Feed-in-Tariff program. As the company continues to advance its renewable energy portfolio in the region, it will be focused in the coming months on growing its operations and local personnel to support continued success. SB Energy has developed in excess of 650 megawatts of solar and wind power since it was established in 2011.
The partnership between Invenergy and SB Energy combines Invenergy’s international experience with advanced, large-scale development and SB Energy’s domestic know-how accumulated through various solar projects in Japan. The second large-scale joint solar project between Invenergy and SB Energy, Queens Solar Energy G.K., is located in Fukushima Prefecture and will have 9.2 megawatt dc of capacity once fully operational in late 2019.
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About Invenergy Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland.
Invenergy and its affiliated companies have developed more than 19,900 megawatts of projects that are in operation, construction or contracted, including wind, solar, natural gas-fueled power generation and energy storage projects. For more information, please visit www.invenergyllc.com.
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