Nippon Solar Services (NSS), a developer, asset manager, and operator of mega-solar parks in Japan, announced it has selected Daiwa House Industry Co., Ltd. as the Engineering Procurement and Construction (EPC) contractor for the construction, interconnection and commissioning of a 30MW solar park located in Iwate Prefecture in the Tohoku region. The EPC contract was signed between the two parties on May 31, 2016 in Tokyo.

Construction of the project will begin later in the year once permitting and financial arrangements for the project are finalized. The solar park will utilize Hanwha solar panels and Huawei string inverters provided by Daiwa House Industry. Daiwa House Industry will provide comprehensive O&M services once commercial operation is reached.

“We have been working very closely with Daiwa House Industry over the past months and are very excited to have the support of such a reputable and experienced company.” commented Olivier Renon, Managing Director of NSS.

NSS currently operates 2 solar parks in Yamanashi Prefecture and has started site mobilization for a 33MW solar park in Oita Prefecture. The Tohoku project adds to the company’s strategy to deliver high quality solar plants and to supply sustainable decarbonized electricity to the grid.

About Nippon Solar Services

NSS is a developer, asset manager, and operator of mega-solar projects in Japan, and is the trusted Japanese operator for investments made by Sonnedix, a joint venture between Sonnedix Global Holdings Ltd and IIF Solar Investment Ltd, which is owned by investors advised by J.P. Morgan Asset Management. For further details, visit sonnedixjp.dev.

Sonnedix Group, a global IPP, announced the completion of the non-recourse debt refinancing of a portfolio of four solar parks totalling 23.6MW across southern France.

The financing, which is for a total of Euro 93.7 million, is provided by MUFG’s banking arm, Bank of Tokyo-Mitsubishi UFJ, and La Banque Postale.

Sonnedix Group’s CEO, Andreas Mustad, commented “This is the second portfolio refinancing the Group has achieved in France in the past four months.  Thisfurther demonstrates the strength and quality of our portfolio and the good relationship we’ve developed with our banking partners.  I’m particularly pleasedthat we’ve extended our relationship with MUFG who were part of our previous French portfolio refinancing and with whom we are actively engaged around the world.  I would also like to extend a warm welcome to La Banque Postale as anew lending partner to the Group.  The refinancing maximises the opportunity thatthe current favourable market conditions bring, therebycreating real value for our shareholders while reinforcing the long-term stability of our French fleet”.

Philip Roberts, Head of Energy & Natural Resources at MUFG, said, “We are very pleased to have been invited to participate in our second French Portfolio refinancing with the Sonnedix Group.  We look forward to further extending ourrelationship with Sonnedix as it continues to develop and growaround the world”.

Sonnedix was advised by Linklaters (legal advisor) and Astris Finance (financial advisor).

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.

Sonnedix announced that it has acquired the ‘Solar Holding’ 48MW solar photovoltaic portfolio in Italy from DGE (a 100% subsidiary of Mitsubishi Corporation), INCJ and other shareholders.  The portfolio comprises 22 solar plants located across Italy and brings Sonnedix’s total operating capacity to 68MW in Italy and 200MW globally.

“The Solar Holding portfolio is an excellent fit with our group M&A strategy and I’m very pleased that we’ve been able to complete the transaction in such a short period of time.  This acquisition provides a significant boost to the scale of our Italian portfolio and reinforces our commitment to a long term presence in the Italian market” said Axel Thiemann, Sonnedix’s Executive Vice President of Commercial.

Franck Constant, Sonnedix’s Executive Vice President of Asia, added “We’re proud to be working with Mitsubishi Corporation and their partners on this project as they have demonstrated the highest levels of professionalism throughout the process.  We’re increasingly working with Japanese partners on our development activities in Asia and are very pleased to be working, and continuing to build a mutually productive relationship, with a very respectable and reputable partner like Mitsubishi”.

“DGE has known Sonnedix for a while since we invested in French PV assets.  Sonnedix is a professional PV IPP and we are happy to hand over our plants into good hands” said Keiichi Suzuki, CEO of Diamond Generating Europe.

DGE is Mitsubishi Corporation’s IPP subsidiary in EMEA.

INCJ (Innovation Network Corporation of Japan) is a public-private partnership aimed at promoting innovation and enhancing the value of businesses in Japan.

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.

On December 8th 2015, Nippon Solar Services (NSS) closed project financing with ING Bank as senior debt lenders for a total amount of JPY 12.1 billion.  This financing is for a utility-scale solar photovoltaic (PV) power plant with a total generation capacity of 33 megawatts (MW) located in the Ōita Prefecture in Kyushu, Japan.

“This is our largest financial closing to date in Japan and a considerable milestone for our company.  We want to thank all the advisors involved in this transaction for their support.  We are looking forward to closing more financings of this type for our current pipeline of utility-scale solar PV projects in Japan in the months to come.” commented Olivier Renon, Managing Director of NSS.

The commencement of plant construction is scheduled for the first quarter of 2016 with operations starting in 2018, both of which will be managed by NSS. Engineering, procurement and construction is being undertaken by LG CNS Japan.  The plant uses solar panels manufactured by LG and inverters by TMEIC.

“Sonnedix has successfully worked with ING Bank to finance solar projects in our portfolio in Europe, and we are pleased to see a similar relationship forming between our Japanese operator, NSS, and ING Bank.” said Franck Constant, President of Sonnedix, the major investor in the project.

Erwin Maspolim, ING Bank’s Head of Utilities & Infrastructure Asia, said “The Oita solar PV project will be an excellent addition to ING Bank’s global renewable financing portfolio.  We are especially honored to support Nippon Solar Services in one of the longest tenor solar PV project financings issued by a foreign bank in Japan.  We are positive about the growth of solar PV projects in Japan and other Asian countries and we hope to further expand our business in this area.”

The following advisors have been appointed by Nippon Solar Services and the lenders:

Legal: Anderson Mori & Tomotsune, Linklaters and Kanagawa International Law Office
Technical: Vector Cuatro
Financial model and tax: PWC & KPMG
Insurance: AON

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 visitsonnedixjp.dev

Nippon Solar Services (NSS) who is a Developer, Asset Manager, and Operator of mega-solar projects in Japan, announced it has selected LG CNS as the Engineering Procurement and Construction (EPC) contractor in relation with the construction, interconnection and commissioning of a 33MW solar park located in the Ōita Prefecture in the Kyushu region. An EPC contract was signed between the parties earlier this month in Tokyo. LG CNS’s sister company, LG Electronics, will provide high-efficiency 315 watt solar power modules to meet the project requirements.

The signing attests the excellent relationship developed rapidly throughout the negotiation process between NSS and LG CNS, and represents a strong base for long term successful cooperation between the two parties. Construction of the solar park will start later this year, when all permitting and financial arrangements for the project are finalized.

NSS already built and operates 2 solar parks in the Yamanashi Prefecture and is busy implementing other solar plants in various parts of the country. The addition of the Ōita project is a significant step forward in the company’s strategy to deliver high quality solar plants and to supply sustainable decarbonized electricity to the grid. The event represents also a key milestone for Sonnedix, whose investments in Ōita and other solar projects in Japan are managed by NSS, as its trusted Japanese operator.

The Ōita project falls into the on-going Feed-In Tariff Scheme managed by the Ministry of Economy, Trade and Industry, and aiming to increase the portion of renewable generation facilities in the national energy mix.

About NSS:

NSS (sonnedixjp.dev) is a Developer, Asset Manager, and Operator of mega-solar projects in Japan, and the trusted Japanese operator for investments made by Sonnedix, a joint venture between Sonnedix Global Holdings Ltd and IIF Solar Investment Ltd, which is owned by investors advised by J.P. Morgan Asset Management.