Renova increases stake, commences operations on 80.8MW PV project in Japan
- Renova has put forward a majority stake and switched on a 80.8MW PV installation located in Iwate Prefecture, Japan.
Once holding a 38.50% stake in the Karumai East Solar project, Renova increased that total to 69.25% off of the company’s latest measure to acquire equity interest. Following this transaction, NEC Capital Solutions Limited, Fuyo General Lease Co. and Sumitomo Mitsui Finance and Leasing Company each hold a 10.25% stake in the project as well.
The installation, which commenced operations on 1 December 2019, was constructed by the Karumai East Solar T.K., an affiliate of Renova.
With the start of commercial operations at Karumai East, the total power generation capacity of Renova’s power plants currently in operation sits at a total of 333.3MW. The total power generation capacity of Renova’s power plants, including both those in operation and those under construction, has now expanded to 619.7MW.
The Karumai East Solar project, located near the town of Karumai-machi, will produce approximately 87,000,000 kWh of electricity annually, which stands as the energy equivalent of around 25,000 households.