CEC partners with Azbil to raise 900 million yen, allotted to non-FIT low-voltage solar development, etc.
Azbil and Itochu Corporation raised additional 900 million yen through a third-party allocation of shares (Source: CEC)
On January 26, Clean Energy Connect (CEC, Chiyoda-ku, Tokyo) raised a total of 900 million yen through a third-party allotment of shares with Azbil (Chiyoda-ku, Tokyo) and ITOCHU Corporation as underwriters in series B second close funding. announced that it has procured additional
As a result, Series B totals 2.7 billion yen, bringing the cumulative funding amount to 20.18 billion yen. With this funding, we will develop a non-FIT low-voltage solar power plant that does not rely on the feed-in tariff (FIT) for off-site PPA (power purchase agreement) services, and work to improve the customer's renewable energy utilization rate. The funds will be used to hire more specialists and strengthen the organizational structure.
In conjunction with this investment, CEC and Azbil have signed a business alliance agreement. It will be possible to provide a one-stop service by combining CEC's renewable energy-related business with the energy-saving related services that Azbil has provided as an energy management provider.
CEC provides a one-stop service for decarbonized companies and companies participating in RE100, from drafting optimal renewable energy introduction plans to execution support, post-implementation effect verification, and goal achievement. We will develop a large number of non-FIT small solar power plants nationwide and develop off-site PPA services that provide additional renewable energy power and environmental value.
