TOKYO, Japan, May 16, 2016– Conergy Japan K.K., the Japanese subsidiary of Conergy, a leading German photovoltaic (PV) solution and service provider, announced that they have reached an agreement with Global Power Synergy Public Company Limited (GPSC), a Thai company, and Girana Anuman-Rajadhon, Owner of GA ECO Group to build a 25.88 MWp ground mounted solar PV power plant in Ichinoseki, Iwate prefecture.
With the new agreement, Conergy Japan will function as the lead EPC (engineering, procurement and construction) service provider for the plant. Conergy Japan obtained its construction license in December last year enabling it to provide full turnkey projects in Japan. This is the largest project to date for Conergy Japan. The new plant will produce 28,639 MWh of clean electricity per year with 13,947.2 tons CO2 savings. Project completion is scheduled for the end of 2017. Conergy Japan has partnered with Sumitomo Mitsui Construction Co., Ltd. for site preparation work and with Taihei Technos Co., Ltd. for the installation and construction of the plant.
Meanwhile, Shinsei Bank is providing a non-recourse project loan facility to the project company, Ichinoseki Solar buy dapoxetine from india Power 1 in which GPSC holds 99% of shares while the remaining 1 share with an option to increase are held by Ms Girana Anuman-Rajadhon, founder and CEO of GA ECO Group who also acted as the development and project financing partner of GPSC in this project.
Conergy’s technical team was able to adapt the challenging terrain of the (35ha.) former cattle ranch site to a PV plant by utilizing in-house expertise in civil and electrical engineering and the latest geo-spatial technology. Once the plant is completed, Conergy Japan will also offer its Operations and Maintenance services for the Ichinoseki solar plant.
Prior to winning this EPC contract, Conergy Japan KK was instrumental to the successful development of the Ichinoseki solar power project, providing the necessary development capital as well as leading the permitting processes and community consultations with the land owner, Earth Factory KK, Following the successful permitting of the project, Conergy then conducted a competitive sales process leading to the successful sale of the project SPV to GPSC in 2015.
“The project to develop a solar farm in Ichinoseki City in Iwate Prefecture in the northern region of Honshu of Japan under Ichinoseki Solar Power 1 GK, is the first project that the company as the power and utility flagship of PTT Group has started investing outside Thailand and AEC. The project has proceeded quite well with 32% of the site preparation work done which is earlier than expectation. As a result, the solar farm is due to start selling power by the fourth quarter of 2017.” said Dr. Toemchai Bunnag, President of GPSC.
Girana Anuman-Rajadhon, Owner of GA ECO Group and Project Director and Co-Owner of Ichinoseki Solar Power 1 GK says: “I am very satisfied to have successfully led this project since December 2014 and to secure the project’s financial close in April 2016 with Shinsei Bank.”
Hideyuki Otaka, Managing Director, Conergy Japan says “I am pleased that we have reached an agreement on this PV power project with GPSC. We are proud to have been retained in the Ichinoseki project as the construction partner and EPC service provider for GPSC after having successfully developed the project from its very beginning to the point of ready-to-build and financial close. Today, through the non-recourse project financing from one of Japan’s leading banks, Conergy’s collective experience and global achievements as an integrated downstream PV operator and highly valued EPC and turnkey solutions provider received a clear vote of confidence in the Japanese market. We will continue to aggressively expand our project development and EPC businesses in Japan and contribute to the spread of solar power generation by delivering world class projects to strategic and financial investors.”
Alexander Lenz, Conergy APAC President added, “Today’s world is increasingly heading towards cleaner energy. As demand for renewable energy continues to accelerate, energy providers need a wide range of technology options to effectively meet evolving demands. With one of the industry’s most advanced and complete portfolio of solar services and solutions, Conergy is uniquely equipped to help financial and strategic investors meet and maximize their asset investment targets as well as provide profitable services to energy providers and their customers. We are very pleased to be able to partner with GPSC and help them to execute their vision of expanding energy generation across Asia Pacific.”
Conergy was founded in 1998 and has pioneered the expansion of solar globally. Conergy has built over 1.5 GW of solar power across six continents.