Enfinity Global protects US$ 242 million for 70MW of solar PV in Japan

• Renewables designer and sustainability services provider Enfinity Global has protected ¥ 29 billion (US$ 242 million) in lasting financing for three lately finished utility-scale solar plants in Japan amounting to 70MW.

The power plants are contracted for 18 years under the feed-in tariff (FIT) programme. Global financial institution Nomura acted as initial lead arranger and also single bookrunner while Japanese commercial financier Aozora Bank worked as lead arranger.

Back in February, Enfinity bought a 250MW solar portfolio in Japan for US$ 1 billion, which included three functional large solar power plants with a cumulative capacity of 70MW and five projects incomplete with 180MW cumulative capacity.

" We are dedicated to support Japan's ambitious strategy to reach carbon neutrality by 2050," said Carlos Domenech, Chief Executive Officer of Enfinity Global. "We are grateful for the trust fund shown by our financing companions, Nomura and also Aozora Bank."

Under a business as usual situation, Japan is anticipated to have 111GW of mounted solar by 2025 according to RTS Company, with this rising to 154GW by 2030. Nonetheless, under an 'accelerated situation', it might strike 115GW of installed PV by 2025 and also surpass 180GW by 2030.

Last October, Japan's federal government accepted a plan to elevate the nationwide target for renewable energy in the electrical energy generation mix to in between 36% as well as 38% by 2030.