The liquefied natural gas distributor and its partner plan to start jointly developing an initial 60 MW of capacity “as soon as possible,” according to an online statement.
Japan Renewable Energy (JRE) started building the project this week on a 25.3-hectare plot of land in Tsuchiura, Ibaraki prefecture.
Shares of the Japanese renewables developer — which has a solar portfolio of 270 MW — jumped ¥675 ($5.98) to an opening-day closing price of ¥1,425 on the Tokyo Stock Exchange’s (TSE) Mothers board.
The two insurance firms have already provided ¥10 billion ($88.4 million) in project financing for an undisclosed solar project near Tokyo and another in the Tohoku region, on the northern end of the island of Honshu.
Mizuho Bank arranged the ¥27 billion ($240 million) syndicated loan for the array in Ishikawa prefecture.
The Bangkok-based company acquired the rights to build and run a 154.98 MW solar array in Onikobe, Miyagi prefecture.
The Chinese PV manufacturer will supply its solar panels to the Spanish utility-scale PV developer for two projects.
The 2017 Prius plug-in hybrid vehicle (PHV) is the first commercially available, mass-produced passenger car to feature an optional solar charging system.
Deliveries of PV cells and modules hit 1.7 GW in the three months to the end of December, down from 1.8 GW in the July-September period, according to the Japan Photovoltaic Energy Association (JPEA).
The Tokyo-listed trading firm built the project with its partners in Okayama, Okayama prefecture.
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