Two Giant Company Together to Build Solar Project in Japan

Two Giant Company Together to Build Solar Project in Japan

Etrion (a global solar power company) and Hitachi High-Technologies joined forces as they signed the project for the construction of a 13.2MW Komatsu solar project in the Ishikawa Prefecture of Japan.

The construction of the project is expected to start on February next year.

“I am delighted to announce the signing of the $33m project financing for our 13.2MW Komatsu project, our fourth utility-scale solar project in Japan,” Etrion’s chief executive officer Marco Northland said.

“We will continue to deliver new solar projects through our unique partnership with Hitachi High-Tech in Japan, which is the market with the highest returns for Etrion. Once we close the previously announced sale of our Italian assets, we will be in a very strong financial position to further accelerate our growth in Japan,” he added.

Etrion will own a 85.1% stake in the Komatsu project, while Hitachi High-Technologies will own the remaining 14.9% stake.

Around 83% of project costs will be financed through project debt from SuMi Trust with a tenor equal to the construction period plus 19 years of operations. The remaining 17% will be funded pro-rata by Etrion and Hitachi High-Technologies according to their respective equity interests.

Author: Darvin Tocmo

Share This Post On

Submit a Comment

Your email address will not be published. Required fields are marked *