IBC SOLAR completes two additional projects in Japan

07.06.2017
PV-plant in the Saitama Prefecture with a capacity of 1,75 MW (Photo: IBC Solar)
PV-plant in the Saitama Prefecture with a capacity of 1,75 MW (Photo: IBC Solar)

IBC SOLAR Energy, the International Project Development division of IBC SOLAR AG has announced the grid connection of two solar projects in Japan. The solar parks with a capacity of 3.5 MW were installed in the prefectures of Saitama and Ibaraki.

The ground mounted solar plants, 1.75 MW each, wrere also developed by IBC SOLAR along with its Japanese partners. According to the company, the projects were granted a comparatively high FiT of Yen 32 and Yen 27 per kWh, respectively. Both projects have been sold to the investors BRUC Capital and Macquarie Capital on a turn-key basis, as part of the framework agreement signed by both parties comprising 37 MW of PV parks in Japan. The agreement with BRUC Capital and Macquarie Capital also includes preferential rights to acquire IBC SOLAR’s broader pipeline of solar projects in Japan for the next three years, estimated at up to 150 MWp in additional capacity.

“Since IBC SOLAR started its operations in Japan in 2014, we have focused on the market segment of projects up to 2 MW and are currently working on a consistent pipeline of over 70 MW with secured feed-in tariff. By the end of the year IBC SOLAR will have successfully developed, built and sold to private investors over 25 MW of installed capacity in the country”, says Juan Pedro Naranjo, Managing Director of IBC SOLAR Japan. “We always assume the leadership of every single project, providing one-stop solar solutions to our investors as a combination of local market knowledge and international experience”.

IBC SOLAR enlarged its scope beyond the traditional position as EPC contractor by moving upstream in the value chain as an International Project Developer. Besides Japan, IBC SOLAR is currently developing projects in India, the Philippines, Vietnam and other countries inside the Asia Pacific region. According to IBC Solar, the company has over 400 MW of large scale plants under development to date.

Ralf Ossenbrink / IBC Solar

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