Orix Bank provides green debt for 45-MW solar park in Japan

Solar park in Japan. Source: Sonnedix (www.sonnedix.com).

August 19 (Renewables Now) - Japan’s Orix Bank Corp has extended JPY 3.1 billion (USD 28.2m/EUR 24.2m) in green debt for the construction of a 45-MW solar park in Niigata prefecture proposed by domestic developer Renewable Japan Co Ltd.

This is Orix Bank’s first green loan with third-party evaluation to a large-scale solar project, the lender said on Thursday. The debt will support Renewable Japan’s investment into a special purpose company (SPC) that will build and operate the photovoltaic (PV) park.

The proposed solar farm will be installed in Agano city and is expected to generate 47 million kWh of electricity in the first year of operation. Its annual output is estimated to be enough to cover the power consumption of 15,700 homes per year.

The plant is slated to begin commercial operations in November 2021.

(JPY 100 = USD 0.911/EUR 0.779)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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