Grasshopper Solar has secured $10m from Univergy Solar, to invest in six Japanese solar plants with a total capacity of 4MW.
Image: Grasshopper Solar secures $10m funding for 4MW Japanese solar portfolio. Photo: Courtesy of RK008/FreeDigitalPhotos.net.
These six ground mount projects, ranging from 439kW to 971kW totaling 4MW, will utilize 12,500 solar panels, generate 4,544MWh of clean energy and deliver 3,283 tons of carbon emissions abatement annually.
This portfolio will be developed by Univergy along with its Japanese partners, with construction commencing in last quarter of this year and expected to achieve commercial operation by last quarter of next year. These projects, once completed, will participate in the country’s Feed-in Tariff program with a 20-year contract ranging JPY21-24 ($0.19 – $0.21)/kWh awarded by METI (Ministry of Economy, Trade and Industry).
Grasshopper Solar chief development officer Jonathan Persaud said: “This investment exemplifies Grasshopper’s commitment to working closely with our partners on projects of all sizes. We hope to set more benchmarks for the renewable energy market in Japan with our global solar expertise, financial flexibility and transactional speed.”
Source: Company Press Release