Sep 3 2014
Etrion is partnering with Hitachi High-Technologies to construct 34MW solar projects in Japan. The Sumitomo Mitsui Trust Bank, Limited (SuMi Trust) is providing the funding for the projects.
Hitachi High-Tech and Etrion had in 2012 entered an agreement to develop solar assets in Japan. The first solar projects that are being developed are the Shizukuishi and Mito Solar Projects.
The Shizukuishi Solar Project, a 24.7MW solar PV power plant, and the Mito Solar Project, a 9.3MW solar PV power plant are to be built by Hitachi High-Tech. Hitachi is to provide EPC services, while Hitachi High-Tech is to supply efficient PV generation systems with power conditioning systems. Approximately 20% of the project cost is being funded by Hitachi High-Tech and Etrion, while the remaining 80% is to be funded by the SuMi Trust.
The Shizukuishi solar PV power project is to be built in Japan’s Iwate Prefecture. In October 2014, work relating to the plant construction is set to commence and is expected to be completed in 2016. This plant would produce around 25.6GWh of solar electricity, annually. It is to be built on 51ha of land leased for the project. The power generated would be connected to Tohoku Electric Power utility and a power purchase agreement for approximately $0.39/ kWh would be signed.
The Mito Solar Project is to be built in Japan’s Ibaraki Prefecture. The project has leased 27ha of land for building the PV plant and in September 2014 construction would commence. The generated power is to be provided to the Tokyo Electric Power Company utility.