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X-Elio completes financing deal for solar PV plant in Japan

X-Elio has completed a financing agreement for its Sodegaura solar PV plant in Japan.

It has been reported that the funding will be used for the construction, operation and management of the 16MW Sodegaura solar PV plant.

The PV plant is based in the Chiba prefecture of Japan in Tokyo Bay.

The deal has been inked with Societe Generale and ING. According to the company, the plant will "deliver over 19MWh of renewable energy annually, offsetting more than 9,400 tonnes of CO2 emissions."

X-Elio chief finance officer David Diaz remarked, "The closing of the 6,160 Million Yen Facility Agreement is another successful achievement for the company's business in Japan. This agreement crystallizes our ability to raise competitive finance with global leading financial institutions."

Meanwhile, X-Elio country manager in Japan Toshiaki Isoi commented, "Providing Japan with reliable, economic and sustainable energy is our core business."

Meanwhile, ING APAC lead for renewables & power, energy sector coverage Adrian Lian remarked, "We are delighted to support X-Elio’s Sodegaura solar photovoltaic project in Japan, leveraging ING's Asia Pacific network to strengthen our global relationship with X-Elio."

The companies are of the view that Japan is a critical market in the energy world, paving the way for the energy transition in Asia-Pacific. The project is expected to support the further development of photovoltaic energy in Japan.

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