Etrion inaugurates 25-MW solar farm in Japan

November 1 – Independent solar power producer Etrion Corp (STO:ETX) said today it has achieved full commercial operation of the 24.7-MW Shizukuishi solar park in northern Japan’s Iwate prefecture.

The solar power facility is selling its output to Tohoku Electric Power Co Ltd under a 20-year take-or-pay power purchase deal at JPY 40 (USD 0.381/EUR 0.364) per kWh.

Etrion holds an 87% stake in the plant, while partner and EPC contractor Hitachi High-Technologies Corp (HHT) owns the rest. Sumitomo Mitsui Trust Bank Limited (SMTB) also took part in the project by providing construction financing and an 18-year loan.

Shizukuishi is Etrion’s second successfully-completed solar partnership in Japan with HHT and SMTB. In June, the company announced the financial close of a third project — the 9.5-MW Aomori development.

“We are fully dedicated to this market [Japan] and are confident that we can advance our more than 250 MW of backlog and pipeline to be ready to build over the next couple of years,” said Marco Antonio Northland, Etrion’s CEO.

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