As per the agreed terms, Shinsei will provide around JPY10bn ($96.8m) in loan for the 40MW solar power project.
Japan Renewable Energy (JRE) will construct the proposed solar power project.
Construction of the solar facility will commence in June 2013, while the operations at the project are expected to begin in January 2015.
The electricity generated at the project will be purchased by the Tokyo Electric Power Company, under a 20 year contract.
When completed, the project will be JRE’s first project and is expected to be one of the largest scale mega solar business in Japan.
Meanwhile, Shinsei is focusing on new business opportunities in the strategic area of the clean energy industry, including solar power generation.
