Mizuho Bank was extending a low interest construction loan facility of up to US$33 Million (4 billion yen) in Japan to First Solar Japan GK to develop utility-scale solar power plants. The financing will be available for funding construction of qualified projects in First Solar's development pipeline in Japan. First Solar will engage with Japanese companies to construct the projects.
The financing underlines First Solar's strong commitment to the development of Japan's PV utility-scale solar industry.
Jack Curtis, First Solar's Regional Manager for Asia Pacific said, "The loan facility offering for PV utility-scale solar projects will further enhance Japan's ongoing efforts to reduce its dependency on imported fossil fuels. Mizuho Bank Ltd.'s support for First Solar's project development is expected to encourage further participation with more private investments in the PV utility-scale solar sector in Japan."