Japanese developer Shizen Energy and real estate-energy platform SMFL Mirai Partners have acquired Mizuta Koichi Co., previously owned by French floating solar experts Ciel & Terre, for an undisclosed amount.
Mizuta Koichi brings a portfolio of 12 operational floating solar arrays across Japan, totaling 18.6 MW. These solar installations are primarily located on agricultural reservoirs, with half in the Shiokuk region on Japan’s smallest island, and the remainder spread across the Kansai, Chugoku, and Chubu regions on Honshu, Japan's largest island.
Both companies aim to expand Japan's floating solar power generation, citing 150,000 reservoirs as potential sites for future solar installations. According to the NEDO Renewable Energy White Paper, the total potential for floating solar in Japan could reach 39 GW.
By September 2024, SMFL Mirai Partners will have a portfolio of 864 MW in solar power plants, while Shizen Energy holds a 1+ GW renewable energy portfolio in Japan and is also developing projects across 10 countries.
Japan's 22nd solar auction recently allocated 56.4 MW of new solar capacity, signaling continued growth in the sector.
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