Renewable Japan to finance solar project in Mie with USD 63m bond
Solar panels. Featured Image: Jackiso/Shutterstock.com
Renewable Japan Co Ltd announced on Monday it has raised JYP 6.9 billion (USD 63.2m/EUR 52m) in funds for a 16.5-MW solar project in Mie prefecture.
Located in the city of Toba, the photovoltaic (PV) plant is expected to offset some 9,790 tonnes of carbon dioxode (CO2) emissions per year. No further details on the PV facility were given in the release.
The funds were raised through project bond "RJ Renewable Energy Project Bond II Beneficiary Rights", arranged by Barclays Securities Japan Ltd with Hitachi Capital Trust Corp as the trustee. The bond is due on February 20, 2040.
As of the end of October 2017, the company has a project portfolio of 445 MW in the country, it noted.