Sonnedix Sano Solar PV Plant Reaches Financial Close
Sonnedix Japan K.K. (Sonnedix Japan) has reached financial close on a YEN 16.5 billion non-recourse financing with Sumitomo Mitsui Banking Corporation (SMBC) for the 41.6 MW Sano solar PV plant, on behalf of the Sonnedix group of companies (Sonnedix).
Sonnedix, one of the leading players in the Japanese solar market, currently has more than 160 MW of capacity in construction managed by Sonnedix Japan. The 41.6 MW Sano plant, located in the Tochigi prefecture, will become the group's third largest in country when operational and marks further progress towards over 400 MW of capacity expected to be delivered into operation over the next few years.
Andreas Mustad, CEO of Sonnedix, said:
"The scale with which we are growing our global platform is exemplified by the pace of progress in Japan. Whether we build or acquire a PV plant, we are committed to optimize each investment for the long-term."
The EPC contractor, juwi Shizen Energy Inc, has begun construction of the Sano solar plant, which is expected to start operation in late 2020. When completed, the solar plant will generate approximately 45,000 MWh of clean electricity per annum, equivalent to the amount consumed by approximately 15,000 households and will avoid the emission of circa 30,000 tons of carbon dioxide per year compared to conventional power generation.