First Solar sells Japanese solar platform

• The 293MW DC utility-scale project has been gotten by funds handled by PAG Real Assets

US-based Initial Solar has actually completed the previously revealed sale of a 293MW DC utility-scale solar project growth platform in Japan, to funds managed by PAG Real Assets (PAG).

As part of the sale, the majority of First Solar project development workers in Japan have actually joined PAG.

PAG is a Asia Pacific-focused personal investment supervisor with greater than US$ 50bn (EUR50.4 bn) in assets under administration.

First Solar had likewise previously revealed that it had become part of a definitive contract pursuant to which PAG will obtain from First Solar its solar procedures and also maintenance (O&M) platform with approximately 665MW DC under management, in Japan.

This deal is expected to enclose the second half of 2022, after obtaining regulatory approvals, the invoice of third-party permissions as well as satisfying various other customary closing conditions.