Electric Power Development Co., Ltd. (J-POWER) and Photon Capital LLC have signed an agreement for the development and management of seven new high-voltage photovoltaic solar power plants across different regions in Japan.
In a statement, J-POWER said the facilities, which have a total capacity of around 20 megawatts direct current, will be developed by Photon on idle land in Hokkaido, Tohoku, and Chugoku. The former will manage the generated electricity, including generation forecasting, balancing the planned and actual generation volumes, power trading.
This is part of the second aggregation service contract signed by the two companies following the first one inked in November last year.
“Following the previous project, Photon Group will take the lead in structuring this project,” J-POWER said, adding that a non recourse project financing agreement was also signed with ORIX Bank Corporation.
Earlier, J-POWER announced the sale of all its 50% equity interest in Green Country Energy, together with the entire interest held by its partner to Public Service Company of Oklahoma. Following this, the company said it “will continue to operate its business with the aim of growing and enhancing the value of its overseas power generation business.”
