X-Elio closes financing on Japanese solar project

• Societe Generale and also ING funds will assist develop as well as manage 16MW Sodegaura PV plant

X-Elio has recently closed a financing offer for its Sodegaura solar PV plant in Japan with Societe Generale as well as ING.

The financing will certainly be utilized for the building and construction, operation and administration of the 16MW Sodegaura solar PV plant, located in the Chiba prefecture of Japan in Tokyo Bay.

The PV plant is expected to be linked to the grid by Q4 2022, as well as will supply over 19MWh of renewable energy yearly, countering greater than 9,400 tonnes of CO2 emissions.

Building and construction works are being accomplished by Solarig Japan Services GK, which began last August as well as is advancing according to timetable.

X-Elio chief financing police officer David Diaz said: "The closing of the 6,160 Million Yen Facility Agreement is one more effective accomplishment for the business's business in Japan.

" This agreement crystallizes our ability to increase affordable finance with worldwide leading banks.

" Sodegaura's funding is one more instance of Societe Generale and also ING rely on the advancement of X-ELIO's lasting services profile."

X-Elio nation supervisor in Japan Toshiaki Isoi said: "Providing Japan with dependable, economic and sustainable energy is our core service.

" We have terrific assumptions out there and will remain to sustain the country in the achievement of its long-lasting renewable targets."

Societe Generale handling supervisor-- Energy + Group Cedric Chatel stated: "X-Elio counts among the most seasoned global designers of photovoltaic power generation assets.

" Japan is an essential market in the energy globe, paving the way of the energy shift in Asia-Pacific.

" This project supports the additional advancement of solar energy in Japan - one of the columns of the country's energy technique - and also it allows X-Elio to settle its effective record in Japan.

" We are as a result delighted to sustain our client X-Elio by playing a crucial role in financing their Sodegaura solar photovoltaic or pv project."

ING APAC lead for renewables & power, energy field insurance coverage Adrian Lian stated: "We are delighted to sustain X-Elio's Sodegaura solar photovoltaic or pv project in Japan, leveraging on ING's Asia Pacific network to enhance our global connection with X-Elio.

" Along with our very own net-zero climate aspirations, ING is proud to fund renewable energy projects in the markets we run in, as well as is devoted to support our clients in their energy change journeys."