Japan's Ichigo secures green loan for 25 MW of solar
Ichigo Kobe Pompuike. Image by Ichigo.
Japanese real estate investor Ichigo Inc (TYO:2337) announced on Thursday that its subsidiary Ichigo ECO Energy has obtained a green loan to fund the construction of 25 MW of solar parks in the country.
The wholly-owned subsidiary has signed an agreement with Japanese lender Mizuho Bank Ltda, part of giant Mizuho Financial Group (TYO:8411), for a loan of JPY 3.72 billion (USD 30.5m/EUR 27.5m). The loan covers the construction costs of 15 solar power plants, of which 14 are already in operation.
Named Ichigo Ueda Yoshidaike ECO Power Plant, the 1.16-MW under-development solar farm is expected to come online this November and generate some 1.61 million kWh per year.
The loan should be repaid in 15 years and is due on March 31, 2037.