Sonnedix 40 MW Soma Solar PV Plant Achieves Financial Close and Construction Is Underway

PVTIME – Sonnedix Soma Solar (40 MW) PV Plant, located in Soma city, Fukushima prefecture, reached financial close on 10 July 2020. The JPY 17.5bn (EUR 145.2 million) club financing was led by Sumitomo Mitsui Trust Bank, Limited (“SMTB”) and underwritten by SMTB, The Bank of Fukuoka, Toho Bank, The Bank of Yokohama, Fukushima Bank and Joyo Bank.

Daiwa House is the EPC contractor for the construction of this project, which is expected to be completed in early 2022. When operational, the solar plant is expected to generate over 48,000 MWh of clean electricity per year, equivalent to the amount consumed by approximately 16,000 households.

“This financial close for Sonnedix Soma Solar represents another significant milestone of our resilient and dedicated team, and it’s testament to our strong commitment to the Japanese market. Now, more than ever, we are focusing on our growth strategy, and this achievement takes us one step closer to becoming leading player in the Japanese solar sector” said Axel Thiemann, CEO of Sonnedix.

Sonnedix Japan KK (“Sonnedix Japan”) currently manages on behalf of Sonnedix group of companies (“Sonnedix”) 133 MW of solar PV capacity in operation, with a further 205 MW in various stages of construction.