Infrastrutture S.p.A. obtains non-recourse financing of 1,08 billion JPY for a 4.4 MW solar power plant in Fukushima Prefecture
February 4, 2022
nfrastrutture S.p.A., led by Pier Francesco Rimbotti and active for over 60 years in energy production as sponsor, investor & owner, has obtained a non-recourse loan of around 8,5 million euros from the Japanese credit institution Sumitomo Mitsui Trust Bank Co. Ltd. for a 4.4 MW solar power plant in Fukushima Prefecture. The plant called Yachimukai East and West in Iitate Village, spread over an area of 8 hectares, owned by Solar SPV G.K. Infrastrutture S.p.A. has substantial economic interests in the project as TK investor.
“We’re particularly happy that we have met the stringent standards for development, construction and financing in Japan, a country which strongly benefits from renewables for energy transition and independence”, said Pier Francesco Rimbotti, CEO of Infrastrutture S.p.A.
The construction works has been commenced in November 2020, facilitating 9,760 sets of 450W solar modules over approx. 80,000m2 of agricultural land in two areas in Iitate Village and successfully completed in October 2021. The senior loan facility renders 17 years tenor which is supported by long term energy sales to Tohoku Electric Networks, under PPA benefitting from the FIT regime.
Minoru Saito, CEO of Hergo Japan Energy, Infrastrutture’s driving force in Japan, appreciates that the Project is truly supported by the local community who has ever suffered by disaster of Fukushima Nuclear Power Station: “I would like to congratulate all the stakeholders including the Iitate Village, the landowners, the local districts, contractors and very importantly the senior lender for all the contributions provided by them to materialize the Project”.