Solar Frontier announced on March 2nd that it will sell its 2 MW Kunitomi Megasolar power plant in Miyazaki, Japan, to a trust account managed by Mitsubishi UFJ Trust and Banking Corporation (“MUTB”). The agreement was signed on February 24 2015, and will include the transfer of all related facilities, contractual positions, rights, and obligations. Kunitomi Megasolar, which started operating in March 2013, was the first megasolar power plant owned and operated by Solar Frontier.
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Following this transaction, Solar Frontier will continue to be involved in the operation of Kunitomi Megasolar as the project’s O&M provider. The agreement reflects MUTB’s high regard for Solar Frontier’s O&M capabilities, as well as the high economic viability of Kunitomi Megasolar, based on the higher real-world output of CIS thin-film modules.
Solar Frontier will utilize the know-how it has gained by developing and operating the Kunitomi Megasolar power plant as it continues to advance its megasolar business through projects in Japan and overseas.