The investment consortium, co-led by Partners Group and Equis Funds Group, includes investors such as Babson Capital, LGsuper and Qantas Superannuation. The consortium will fund the construction of utility-scale solar plants across Japan, with the first plants expected to start generating electricity in the second half of 2014.
Japan Solar will partner with Nippon Renewable Energy KK (NRE), one of the largest independent solar utility businesses in Japan. NRE is led by an experienced management team based in Tokyo which owns and will develop a pipeline of over 300MW of Japanese solar projects over the next two years. NRE has contracted 4 projects totalling 47.5MW which will commence construction once financing and construction documentation has been completed. These projects are expected to be followed by more projects totalling 110MW during the course of 2014.
“We are confident of additional investment opportunities in the near term that will offer our clients the opportunity to further contribute to sustainable energy development in Japan” said Benjamin Haan, Managing Director and Head of Private Infrastructure Asia-Pacific at Partners Group.
The projects will benefit from 20-year power purchase agreements as well as from Japan’s Feed-in Tariff (FIT).
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