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Toho Bank Arranges Syndicated Loan for 8MW Solar Plant in Fukushima

2014/08/19 18:30
Kenji Kaneko, Nikkei BP CleanTech Institute
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The Toho Bank Ltd announced that it has provided a loan for the project finance for the "Eurus Yabuki Nakajima Solar Park," which Eurus Energy Holdings Corp (Minato-ku, Tokyo) is developing in collaboration with the governments of Yabuki-machi and Nakajima-mura, Nishishirakawa-gun, Fukushima Prefecture, Japan.

For the project finance, a syndicated loan of ¥3,904 million (approx US$38 million) was arranged. And, this time, The Toho Bank made a loan of ¥537 million in the first phase of the financing. The syndicated loan is participated in by The Toho Bank (lead manager) and The Fukushima Bank Ltd.

The total output of the solar power plant to be built for the project is 8MW (the total capacity of the panels to be installed: about 12MW). The plant is scheduled to start operations in March 2015. About 50,000 panels will be installed on about 28ha of land that straddles the border between Yabuki-machi and Nakajima-mura.

The solar panel and PV inverter employed for the plant are products of Kyocera Corp and Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC), respectively. Yonden Engineering Co Inc, an electric facility company affiliated with Shikoku Electric Power Co Inc, will provide EPC (engineering, procurement and construction) services.

All the electricity generated will be sold to Tohoku-Electric Power Co Inc. The plant is expected to generate an amount of electricity equivalent to that consumed by about 3,000 households and reduce CO2 emissions by about 5,500t per year.