China-based Solar Power Inc. (SPI) says its wholly owned subsidiary, SPI Solar Japan G.K., has entered into a partnership agreement with Osaka, Japan-based K.K. Uniroot to jointly develop a pipeline of more than 500 MW of solar photovoltaic power plant projects in Japan.
Under the terms of the agreement, SPI will assume primary responsibility for project funding, construction and equipment procurement, while Uniroot will bear primary responsibility for land purchase and lease, securing necessary permits, and obtaining power purchase agreements with local utilities.
SPI will hold no less than 51% equity interest in the joint venture.
‘We are delighted to announce this partnership agreement with Uniroot to jointly develop solar PV power plants in Japan, one of SPI's core markets globally,’ says Xiaofeng Peng, chairman of SPI.