Thai co BCPG secures financing for 14.1-MW Japanese PV park - report
Solar park in Japan. Author: Minoru Karamatsu. License: Creative Commons.
BCPG Japan Corp has secured JPY 3.86 billion (USD 36m/EUR 33m) in project financing for a 14.1-MW photovoltaic (PV) plant in Okayama prefecture, local business daily The Nikkei reports.
The Bangchak Petroleum (BKK:BCP) subsidiary operating solar parks in Japan has signed a financing contract with the Tokyo branch of the Netherlands-based bank ING (NYSE:ING). The credit line will cover about 85% of the total investment required for the solar farm.
IHI Plant Construction Co Ltd will serve as engineering, procurement and construction (EPC) contractor for the large-scale PV park. In turn, Chudenko Corp will build a private power transmission line while Trina Solar and Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC) will supply the panels and inverters, respectively.
Upon completion in 2017, the facility in Nagi-cho will be operated and maintained by BCPG Japan. Its entire output will be bought by The Chugoku Electric Power Co Inc.
BCPG Japan, former SunEdison Japan Corp, currently has five PV systems with a combined capacity of 26 MW. The latest scheme is the firm's largest so far and its first one in the Chugoku region.