JAG International Energy aims to raise ¥5.4 billion ($47.6 million) to fund the completion of a 17 MW solar project north of Tokyo.
Jera — jointly owned by Japanese utilities Tokyo Electric Power (Tepco) and Chubu Electric Power — will acquire an equity stake in the Indian independent power producer via a subscription to newly issued shares.
Solar accounts for nearly 92% of its 307 MW renewables portfolio, with total investment reaching ¥137.3 billion ($1.2 billion) by the end of January 2017.
The Tokyo-based group will oversee construction of the ¥13 billion ($114.3 million) project in the city of Minamisoma, on the east coast of the Japanese island of Honshu.
The independent power producer has signed a development partnership with GSSG Solar to build a 170 MW solar portfolio in Japan through its Japanese operator, Nippon Solar Services.
Japanese electronics giant lowers its full-year losses to just $329 million as share values rise across the board following buyout by Foxconn. Sharp’s solar segment, however, remains only unprofitable division.
Japanese conglomerate Marubeni is planning to build a mega 1.18 GW solar plant, making it the largest in the world, in the United Arab Emirates, with support from JinkoSolar and the Abu Dhabi Water & Electricity Authority, according to Japanese newspaper Nikkei.
The Japanese financial institution increased investments in clean energy and energy-smart technologies during an overall sector downturn in investment.
Along with the majority of other market analysts, EuPD Research is forecasting a drop in solar installations in 2017, mainly as a result of a reduced installation target in China, which is likely to ramp up the pressure on PV manufacturers.
SB Energy — the renewables development unit of Japanese telecoms giant SoftBank — will connect the project to the grid from the start of February with partner Mitsui & Co.
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