PVTIME – Global renewable energy developer, service provider and distributor, BayWa r.e. has announced the successful sale of its Isohara solar farm in Japan, the second such transaction in two months.
Isohara Solar Farm (Japan)
The sale of the 35MWp site in Kita-Ibaraki City follows on from the successful sale of the 11.9 MWp Izumi solar farm in December 2020 and is further evidence for BayWa r.e.’s commitment to the country and its renewable generation ambitions. It will produce enough electricity to meet the average annual consumption of 15,000 households in Japan.
The 57.8-hectare Isohara solar farm was designed and built by BayWa r.e. and achieved full operations in January 2021, bringing to bear its considerable global experience and expertise in large-scale solar park construction projects.
The purchaser of the site is D&D Solar GK, a new venture set up between Osaka Gas and the Development Bank of Japan (DBJ).
This joint venture also purchased the Izumi solar farm, demonstrating the consolidation of the relationship between the new venture and BayWa r.e. in Japan.
“This successful sale, so soon after our first, will enable us to continue our investment strategy of capital recycling in solar energy generation projects in Japan,” said Jean-Francois Rebeille, COO, BayWa r.e Japan K.K.
“Isohara is our biggest project in Japan to date, and we have a third on schedule for 2023, in Kobe, which brings us to more than 100 MW of green energy in our pipeline and installed capacity.”
He added: “We are pleased that we have once again been able to work with D&D Solar and look forward to building on this growing relationship.”
Osaka Gas aims to achieve its carbon neutrality in 2050 through the contribution for the spread of 5,000 MW renewable energy power sources both domestically and globally.
Likewise, DBJ actively supports actions contributing to the achievement of decarbonised society through the provision of risk money to domestic and international renewable energy power sources such as solar and wind.
Koichiro Age, Head of Renewable Energy Development DEPT., Osaka Gas/Yasuhiro Matsui, General Manager of DBJ commented: “D&D has been set up to enable the purchase of solar farms here in Japan, and the purchase of a second solar farm from BayWa r.e. will help us increase the total generation in our portfolio.
“We look forward to acquiring further projects of this nature, and to continuing to work with BayWa r.e. ”
Since entering the APAC region in 2015 BayWa r.e. has already delivered over 400 MW of renewable energy across solar and wind farm developments and large-scale C&I installations.
