Invenergy Japan and SB Energy, a subsidiary of SoftBank Group have formed a partnership that will enable the joint development, financing, construction and operation of two new large-scale solar projects in Japan—Queens Solar Energy G.K. and Koumi Kogen Solar Energy G.K.
Since 2013, Invenergy has successfully worked to advance the development of its pipeline of approximately 250MW of solar and wind developments under the Ministry of Economy, Trade and Industry’s (METI) Feed in Tariff (FIT) program. FIT was established in 2012 to encourage the investment, development and generation of renewable energy sources in Japan to increase the country’s rate of energy self-sufficiency.
SB Energy has developed approximately 375MW of solar and wind power since it was established in 2011. Both companies aim to enhance the opportunities for solar power generation by utilizing Invenergy’s experience with many advanced global solar projects and SB Energy’s domestic know-how accumulated through various solar projects in Japan.
Queens Solar Farm operated by Queens Solar Energy G.K. is located in Fukushima Prefecture and will have the capacity to generate 10.5MW of solar power.
Koumi Kogen Solar Farm operated by Koumi Kogen Solar Energy G.K.is located in Nagano Prefecture, approximately 100 miles northwest of Tokyo, and will generate 10.4MW of solar power once it is fully operational.
Jim Shield, Executive Vice President and Chief Commercial Officer of Invenergy said, “This deal marks our first major commercial transaction in Japan and we are pleased to be working with SB Energy, a company with an outstanding reputation for quality, to make this happen.”
Hiroaki Fujii, Executive Deputy President of SB Energy said, “We are pleased to cooperate with Invenergy Japan, a company making a lot of progress with its knowledge of the renewable energy business globally. With this partnership, SB Energy will accelerate the adoption of renewable energy in Japan.”