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Sonnedix reaches financial close on Japanese PV plant

Sonnedix Japan has reached financial close on a 13.9 billion Yen non-recourse debt facility with MUFG Bank Ltd for the 46.6 MW Tono solar PV plant, on behalf of the Sonnedix group of companies.
Sonnedix reaches financial close on Japanese PV plant
Courtesy of Sonnedix

This comes less than a year after the project was acquired from its previous owners in June 2017, bringing Sonnedix’s total capacity in operation or under construction in Japan to 169 MW.   Assets in Japan are acquired or built and operated on behalf of Sonnedix by its operating partner, Sonnedix Japan, and this is a further step in the Japan growth strategy, which is on track to deliver over 400 MW into operation in the next few years.

“We are very proud of the Tono project milestone, which means Sonnedix now has over 200 MW of capacity in construction across our global platform” said Andreas Mustad, CEO of Sonnedix. “This is in parallel to the growth achieved over the last 12 months through the acquisition and integration of solar PV assets in other OECD countries. As our platform continues to scale, so does our commitment to its operational excellence in the long term.”

The EPC contractor, NEC Networks & System Integration Corporation, has begun construction of the solar plant, which is expected to start operations in early 2020. When completed, the solar plant is expected to generate over 53,000 MWh of clean electricity per annum, equivalent to the amount consumed by approximately 17,650 households.

 

Image: Suwa PV plant (Sonnedix)

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Tags: Japan , PV , Solar , Electricity
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