Japan's Largest Single-Asset Solar Project Secures ¥10.9 Billion Financing
The Inuyama Solar Power Plant, Japan's largest single-asset solar project to reach financial close under a VPPA, has received ¥10.9 billion in non-recourse financing from Societe Generale. This significant investment underscores the growing interest in renewable energy projects in Japan, with the country aiming for 36-38% renewables in its electricity mix by 2030.
Together, Microsoft and Shizen Energy are driving this growth. Shizen Energy, a leading Japanese renewable energy company, operates four solar plants efficiently and reliably through its integrated approach, handling project coordination, financing, and asset management. Microsoft, committed to moving toward 100% renewable energy for its operations by 2025, has contracted over 34 GW of renewable capacity across 24 countries, with key expansions including a 10.5 GW framework with Brookfield Renewable Energy and a 250 MW agreement with National Grid Renewables in Wisconsin. Their collaboration has resulted in Shizen Energy's recent announcement of an expanded partnership with Microsoft, increasing their Renewable Energy Purchase Agreements to 100 MW across four solar projects in Japan. Microsoft has signed three additional 20-year agreements with Shizen Energy for solar plants in Kyushu and Chugoku, furthering both companies' renewable energy goals.
The Inuyama Solar Power Plant's financial close, backed by Societe Generale, and the expanded partnership between Microsoft and Shizen Energy demonstrate the growing momentum in Japan's renewable energy sector. With international financing flowing in and corporate renewable procurement attracting global attention, Japan is well on its way to achieving its 2030 renewable energy targets.
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