SunPower has start construction of a 27MW solar PV power plant in Nanao, Ishikawa Prefecture, Japan with ISE Group and Total. The plant will feature SunPower’s high efficiency Maxeon® solar panels and special-designed ground-mounting systems that meet Japan’s earthquake-resistant building standards.
The Nanao PV project is jointly managed by ISE Group, which will own 50% of the project, while Total, an energy from France, and its affiliate SunPower, from USA, will equally share the remaining 50% equity portion. It will be financed through non-recourse project debt arranged by Sumitomo Mitsui Banking Corporation (SMBC), the mandated lead arranger for the project.
The Nanao PV plant covers a 25 hectares land owned by ISE Group and is scheduled to reach commercial operations in the first quarter of 2017. It is expected to generate approximately 29GWh of solar power per year, which is enough for powering over 8,900 local Japanese homes. Electricity generated by the plant will be fed into the regional power grid for supplying the regional community.
"Ise Group is pleased to launch construction of one of the largest PV plants in the Hokuriku region," said Hikonobu Ise, Chairman of the Ise Group. "As a company which has been providing eggs to customers across the nation for more than 100 years, we are now able to contribute to the region by providing clean electricity through photovoltaic projects using our lands.”
The three companies together invested 10 billion yen in the solar project. ISE Group said that it will continue developing PV business in Japan and South Eastern Asian countries.