FOR IMMEDIATE RELEASE

Suwa City, JAPAN

For further information please contact infojapan@sonnedix.com

Sonnedix’s 46.8MW Nagano Suwa Golf Megasolar PV plant was officially inaugurated in the Nagano prefecture at an event jointly hosted by Sonnedix Japan and construction partner JFE Plant Engineering (f.k.a. JFE Electrical & Control Systems, Inc). In attendance were key project partners, leaders from the renewable energy sector and community representatives. During a traditional ceremony, guests celebrated the successful completion of the project, its economic and social impact in the local community and Sonnedix’s long-term commitment to the Japanese market. The ceremony was also an opportunity to thank all parties involved for their support in bringing the solar plant to completion.

“It is an honour to celebrate the formal opening of Suwa solar PV plant. This ceremony marks the beginning of the operations phase for the plant during which we will be working closely with our partners and the local community. This achievement is an important step in our in-country growth and expansion strategy which will result in the company investing over $1.5 billion in the next few years, effectively making Sonnedix one of the leading players in the Japanese solar market” commented Andreas Mustad, CEO of Sonnedix.

Located in Suwa City, in the Nagano prefecture, the solar plant is expected to generate 57,000 MWh of electricity per annum which is equivalent to the amount consumed by approximately 14,250 households. Electricity generated by the solar plant is sold to Chubu Electric Power Co Inc. Engineering, procurement and construction services were provided by JFE Plant Engineering. During the construction 143,080 solar panels manufactured by SunPower and 22 inverters manufactured by TMEIC were installed on the 127 ha of land previously used as a golf course.

This inauguration marks a key milestone in Sonnedix’s commitment to the Japanese market. The Suwa solar PV plant is the first of a number of the company’s large-scale investments at various stages of development or construction. Sonnedix Japan expects to deliver these over the next few years taking its operational capacity in Japan to over 400MW.

As part of its commitment to the local communities, Sonnedix Japan and its partners have provided financial support to clear and rejuvenate the Zazensonosato neighbouring park including repairing a walking trail, re-building a fish pond and installing new signage. In addition, the access road to the park and to the solar PV plant will be equipped with solar street lighting.

 About Sonnedix Japan

Sonnedix Japan is a developer, asset manager, and operator of mega-solar projects in Japan, and the Japanese operator for investments made by Sonnedix. For more information about Sonnedix Japan, please visit www.sonnedix.jp

 About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, including over 600 MW of photovoltaic power plants in operation, as well as several hundred MW under development, in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan. For more information, please visit www.sonnedix.com

FOR IMMEDIATE RELEASE

TOKYO, Japan

For further information please contact infojapan@sonnedix.com

Sonnedix Japan K.K. (Sonnedix Japan) has completed the acquisition of the 46 MW Tono Mega Solar PV project located in the Iwate prefecture, on behalf of the Sonnedix group of companies, an independent solar power producer, from SunPower Corp. (NASDAQ:SPWR). This acquisition consolidates Sonnedix’s position as a leading player in the Japanese solar market.

“The acquisition of the Tono project marks a significant milestone for Sonnedix, bringing our pipeline of solar PV projects in Japan to over 500 MW. Once fully built over the next few years, this pipeline will bring the total investment in the country to over $2 billion. Consistent with our global strategy, our plan is to build, own and operate these assets in the long run through our operating partner Sonnedix Japan, whilst continuing to look for opportunities to further grow our pipeline.” commented Andreas Mustad, CEO of Sonnedix.

Sonnedix Japan, has a team of over 40 dedicated professionals and over 500MW of utility scale solar photovoltaic (PV) projects under development, construction or in operation on behalf of Sonnedix.

Sonnedix Japan is also pleased to announce that it has proceeded with the first drawdown of the non-recourse senior debt facility from Shinsei Bank for the 33MW Yamada project, also located in the Iwate prefecture.  While construction on the plant began in April 2017, an official ground breaking ceremony was held on June 22, 2017 at the site. The power generated by the project will be delivered to regional utility company Tohoku Electric Power, with the installation expected to last for a minimum of 20 years.  Once the installation is completed in October 2019, the project will produce enough energy to power approximately 8,500 homes and will avoid the emission of 23,000 tons of carbon dioxide per year compared to conventional power generation.

“Yamada 33MW Project marks our first large scale project development in the Tohoku area where Sonnedix Japan, manages over 300MWs of projects under development (including the recently acquired 46 MW Tono project).  With our growing operating platform, development project pipeline and business scale, Sonnedix and Sonnedix Japan continue to be fully committed to the Japanese renewable energy market” commented Netoshi Kuriyama, CEO Sonnedix Japan.

Tono will be the third large-scale solar plant in Japan co-developed by SunPower.  The plant will use SunPower E-Series solar panels, which maximize the power generated on site by producing 45 percent more energy in the same amount of space compared to conventional solar panels.

About Sonnedix Japan

Sonnedix Japan is a developer, asset manager, and operator of mega-solar projects in Japan, and the Japanese operator for investments made by Sonnedix (www.sonnedix.com). For more information about Sonnedix Japan, please visit www.sonnedix.jp

About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix currently owns over 600 MW of photovoltaic power plants in operation as well as several hundred MW under development in Italy, France, Spain, USA/Puerto Rico, Thailand, Chile, South Africa and Japan. For more information about Sonnedix, please visit www.sonnedix.com

About SunPower

As one of the world’s most innovative and sustainable energy companies, SunPower Corporation (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower’s more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower Corporation has dedicated customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.

About Shinsei Bank

Shinsei Bank is a leading diversified Japanese financial institution providing a full range of financial products and services to both institutional and individual customers. News and other information about Shinsei Bank is available at http://www.shinseibank.com/english/index.html

Nippon Solar Services announces partnering with GSSG Solar for a 170MW expansion in Japan

TOKYO, Japan – Nippon Solar Services (NSS) has partnered with GSSG Solar (GSSG) to deploy a 170MW portfolio of Solar PV plants, with 47MW under construction, and the rest currently under development.

The expansion continues to build on NSS’s position as one of the leading players in the Japanese solar market, with a strong local team and close to 400MW of utility scale solar photovoltaic projects under development, construction or in operation. NSS is the trusted Japanese operator for investments made by Sonnedix, an Independent Solar Power Producer majority owned by institutional investors advised by J.P. Morgan Asset Management.

“Since our establishment in 2013, Nippon Solar Services has been working towards building a long term sustainable renewable power business in Japan.  The partnership with GSSG will contribute to bringing our business to scale and further strengthening our position in the Japanese renewable market,” commented Netoshi Kuriyama, Managing Director of NSS.

“The announcement of a major expansion of our pipeline projects in Japan demonstrates our long-term commitment to the Japanese market, which once fully built, will bring the total investment in the country to over $1.3 billion” said Andreas Mustad, CEO of Sonnedix. “We are pleased to have formed a strategic alliance with an experienced industry player like GSSG and look forward to continued cooperation across jurisdictions”

GSSG and NSS have established a joint development framework to finalize the development and construction of these facilities for Sonnedix, while maintaining their obligations to the local project partners in and around each project site. The two companies have discussed continued collaboration in Japan and other geographies including the US.

“GSSG remains fully committed to this portfolio of projects alongside the NSS team,” said Tomakin Archambault, CEO of GSSG Solar LLC, “In Sonnedix we found a partner who shares a commitment to building solar projects for the long-term. We look forward to working alongside the NSS team to deliver these projects and to generate clean renewable electricity. The proceeds from the transaction will allow us to further enhance our footprint in Japan, and we remain committed to investing in more solar PV projects in the country.”

NSS was advised by Paul Hastings and Kanagawa International Law Office (legal), Vector Cuatro (technical), and KPMG (accounting / tax). GSSG Solar was advised by Morrison & Foerster and Nishimura & Asahi (legal) and KPMG (accounting / tax).

About Nippon Solar Services

Nippon Solar Services is a developer, asset manager, and operator of mega-solar projects in Japan, and the trusted Japanese operator for investments made by Sonnedix (www.sonnedix.com). For more information about NSS, please visit sonnedixjp.dev

About Sonnedix

Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. For more information about Sonnedix, please visit www.sonnedix.com

About J.P. Morgan Asset Management – Global Real Assets

J.P. Morgan Asset Management – Global Real Assets has more than $96 billion in assets under management and more than 400 professionals in 20 offices throughout the Americas, Europe and Asia Pacific, as of December 31, 2016. With a 45-plus year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions. For more information: jpmorgan.com/institutional/global_real_assets

About GSSG Solar LLC

GSSG Solar is a full-service solar investment firm comprised of a select team of experts with solar and financial service backgrounds. Each of its investments seek capital appreciation through select investments in high quality solar projects worldwide. GSSG Solar, LLC manages the General Partner of GSSG Solar Partners, LP, a solar-only investment fund anchored by Vision Ridge Partners. Its committed investors include family offices, institutions, and individuals. For more information about GSSG Solar, please visit www.gssgsolar.com

For further information please contact Hamir Patel on +44 203 544 4947 or hamir.patel@champollion.co.uk  

J.P. Morgan Asset Management and the Sonnedix Group announced that institutional investors advised by J.P. Morgan Asset Management have acquired substantially all of the Sonnedix Group (Sonnedix).

The announcement came less than two years after the two firms began partnering to pursue opportunities in the rapidly expanding global solar market. Since then Sonnedix has enjoyed consistent and sustainable growth increasing operating capacity from 117MW to 353MW across France, Italy, Spain, Japan, Puerto Rico Chile and the UK as well as in South Africa and Thailand through both organic growth and the acquisition of over €300 million of operating assets. Sonnedix also has a pipeline representing approximately 600MW of projects in construction and pre-construction stages primarily in Japan and Chile. Sonnedix is focused solely on solar photovoltaics (PV) globally, including Japan, continued growth in Europe and expansion into the US.

Commenting on the deal, Andreas Mustad, Sonnedix’s CEO said:

“This increased commitment by J.P. Morgan’s clients marks a new phase of growth in Sonnedix’s evolution. It’s an exciting time for the industry – as this deal shows, institutional investors are increasingly recognising the stability and value of solar generating assets, which is fuelling increased investment in the sector, leading to the large scale adoption of the solar solution worldwide.”

Commenting on the deal, Matthew LeBlanc, Chief Investment Officer of OECD Infrastructure at J.P. Morgan Asset Management – Global Real Assets, said:

“We’re delighted with this follow on investment. Over the past two years we’ve seen the Sonnedix strategic platform deliver dramatic growth, more than tripling its operating capacity and delivering quality projects and acquisitions across many jurisdictions.  Furthermore, there’s a clear alignment between the long term investment horizon of our clients and Sonnedix’s positioning as a leading solar power producer with long-term contracted projects in the markets they serve.  With the declining cost of implementation, coupled with the strong appetite for renewables as an asset class, the global Sonnedix platform is well positioned to continue its growth strategy.”

J.P. Morgan Asset Management – Global Real Assets has more than $95 billion in assets under management and more than 400 professionals in 19 offices throughout the Americas, Europe and Asia Pacific, as of June 30, 2016. With a 45-plus year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.  For more information: jpmorgan.com/institutional/global_real_assets

Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. For more information about Sonnedix, please visit www.sonnedix.com

In Japan, Sonnedix’s investments are managed by its trusted operator Nippon Solar Services, a developer, asset manager, and operator of mega-solar projects in Japan.

Tokyo, Japan – For immediate release

On June 15th 2016, Nippon Solar Services (NSS) closed project financing with Shinsei Bank as a lender for a total amount of JPY 10.7 billion for a Mega Solar photovoltaic (PV) power plant with a total generation capacity of 30 megawatts (MW) located in the Iwate Prefecture in the Tohoku region.

“This is our first financial closing to date in Japan with a Japanese lender and a key milestone for our company.  We want to thank all the parties involved in this transaction for their continued support and commitment.” commented Olivier Renon, Managing Director of NSS.

The commencement of plant construction is scheduled for late 2016 with operations starting in early 2019, both of which will be managed by NSS. Engineering, procurement and construction is being undertaken by Daiwa House Industry.  Daiwa House Industry will also provide comprehensive O&M services during the operations stage.

“We have known Shinsei Bank for several years as a leader in the financing of renewable energy projects in Japan, with excellent experience and knowledge in this market. We are very pleased with this important milestone reached by our local management partner NSS and honoured to see the confidence and growing relationship with Shinsei Bank.” added Franck Constant, Member of the Board of Sonnedix, the majority investor in the project.

Takatoshi Hibino, General Manager of Shinsei Bank’s Project Finance Division stated, “As arranger and lender, we are delighted to take part in the financing of the project and find it a privilege to work beside NSS and Sonnedix. Acknowledging the growth potential in mega solar development within the renewable energy field, we have and continue to proactively arrange domestic PV project financing. We are very pleased to collaborate with NSS and Sonnedix, and look forward in the development of our relationship together with our respective businesses in Japan.

About Shinsei Bank

Shinsei Bank is a leading diversified Japanese financial institution providing a full range of financial products and services to both institutional and individual customers. News and other information about Shinsei Bank is available at http://www.shinseibank.com/english/index.html

About Nippon Solar Services

Nippon Solar Services is a developer, asset manager, and operator of mega-solar projects in Japan, and the trusted Japanese operator for investments made by Sonnedix (www.sonnedix.com).  For more information about NSS, please visit sonnedixjp.dev

About Sonnedix

Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market.  Sonnedix develops, builds, owns and operates solar power plants globally. Sonnedix currently owns over 200 MW photovoltaic power plants in operation as well as several hundreds of MW in development in Italy, France, Spain, USA/Puerto Rico, Thailand, Chile, South Africa and Japan.  For more information about Sonnedix, please visit www.sonnedix.com