Nippon Renewable Energy KK (NRE) has closed $250 million in equity funding from Japan Solar LP to fund Japanese solar generation facilities managed and operated by NRE.
NRE says its relationship with Japan Solar provides it with sufficient capital to progress with projects on an all-equity basis if required. NRE currently owns and is developing a pipeline of over 300 MW of Japanese solar projects that will be financed with Japan Solar.Â
Four projects in Oita, Hyogo, Hiroshima and Aomori prefectures totaling 47.5 MW have been contracted and will commence construction. These projects are expected to be followed by a further 110 MW of projects during the course of the year. NRE develops each project based on Japan's fixed-priced feed-in tariff regime, under 20-year power purchase agreements.