X-ELIO closes the financing process for two new photovoltaic plants in Japan

  • The group achieves the necessary funds for the start-up of two new solar parks in Japan: Tsurusu and Shiroishi.
  • Both PV power stations will be located at Miyagi Prefecture. Tsurusu Park will have a capacity of 38 MW and Shiroishi will reach 28 MW.
  • The plants are expected to start producing energy in the second half of 2018.
  • With both parks, the X-ELIO project portfolio in operation in Japan will be close to 190 MW.

X-ELIO, the leading global group in photovoltaic solar energy, today announced the closing of the financing process for two new photovoltaic plants in Japan. Tsurusu and Shiroishi are two new parks, which will be located in Miyagi Prefecture. Tsurusu will have a capacity of 38 MW, while Shiroishi will reach 28 MW. With this, the portfolio of X-ELIO projects in Japan will reach a volume close to 190 MW, turning the company into one of the main Spanish photovoltaic players in this market.

Sumitomo Mitsui Trust Bank (SMTB) is the entity that has granted the financing with which is implementing the construction of both plants, to be carried out by the Japanese group NESIC. Both plants are expected to start producing energy in the second half of 2018.

These plants will be added to the two solar farms that X-ELIO currently has in operation in this market, as well as to three other photovoltaic stations, which are currently under construction and will be connected between the end of 2017 and mid-2018. By that time the X-Elio portfolio of projects in operation in Japan will be around 190 MW.

X-ELIO entered Japan in 2012 and has since continued to grow there making it one of the group's core markets. After completing the construction of all projects under development, the total investment of the company in Japan will have exceeded 1 billion dollars.

Jorge Barredo, CEO of X-ELIO, said: "We are very excited about the X-ELIO projects in Japan, a market we have been backing since 2012 and we see a lot of potential for the next few years. We are convinced that our global leadership will be complemented well by the expertise of our local partners and will put us on the right track to become one of the leading Spanish benchmarks in the Japanese photovoltaic sector. "