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.