Sonnedix lands financial close on new 40MW Japan project

• Sonnedix has actually reached economic close on a 40MW utility-scale solar farm in Japan, including in an expanding portfolio of solar in the nation.

Sonnedix resorted to Sumitomo Mitsui Trust Bank (SMTB) to lead the JPY15.5 billion (US$ 144 million) financing, which was underwritten by SMTB, The Bank of Fukuoka, Toho Bank, The Bank of Yokohama, Fukushima Bank and also Joyo Bank.

Found in Soma city, Fukushima prefecture, the 40MW Sonnedix Soma Solar project is to be constructed by Daiwa House. It is expected to complete in early 2022 and generate greater than 48,000 MWh of electrical energy annually.

The project will certainly add to an existing profile of projects managed by Sonnedix Japan KK that flaunts an overall of 133MW in operation and a further 205MW in different stages of development.

Axel Thiemann, CEO at Sonnedix, said the economic close was testament to the company's "solid commitment to the Japanese market".

"Now, more than ever, we are concentrating on our development strategy, as well as this achievement takes us one step better to ending up being leading gamer in the Japanese solar field," he said.