WIRSOL and Greenpower Capital have announced a Joint Venture to provide project finance, EPC and O&M for the Japanese feed-in-tariff market. All services are tailor-made to fit Mega Solar PV projects of 10 megawatt and higher.
“Project Finance is the Bottleneck for Mega Solar Projects in Japan”
“We’re excited to bring our 10 years of experience and our track record of 450 megawatt world class projects to Japan”, said Stefan Riel, co-founder and Member of the Executive Board of WIRSOL.
The company is among the key players of Germany’s national energy transition which is aiming at having 80% of its electricity coming from renewable sources by 2050. Riel, who is in charge of the markets in Asia/Pacific, identifies project finance as the bottleneck right now: “Both, the Japanese and the German PV markets, demand for the highest system quality and best performance. Teaming up with Greenpower Capital will allow us to partner with local developers to build mega solar projects in Japan without financing constraints.”
Yoichi Katayama: “The Greenpower WIRSOL alliance is being well received by local Japanese solar developers.”
Providing the first full solution for project finance will bring a new dynamic to the renewable market: “The Greenpower WIRSOL alliance is being well received by local Japanese solar developers. We are very pleased to be working with these experienced professionals”, states Yoichi Katayama, head of the renewable energy practice for Orrick, Herrington & Sutcliffe, LLP.
“With the (finance) problem solved, we will quickly see the solar sector reach its full potential”
Jeff Butler, President of Greenpower Capital, stated “We have been involved with project finance in the USA, Ontario, Puerto Rico, Dominican Republic, UK and other feed-in-tariff markets.” Establishing an office in Japan was the natural progression: “We have found that project finance for plants larger than 10 megawatt can be very difficult to obtain in Japan. With this problem solved now, we will quickly see the solar sector reach its full potential.”
WIRSOL and Greenpower Capital will be exhibiting at the PV Japan 2012 conference in Tokyo Dec. 5-7 (Booth N° P09/410), and the Japan PV Expo in Feb. 2013.
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