Japan’s Renova gets financing for 54.6-MW wind project in Kumamoto
Wind park. Author: Santi Villamarín. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.
Japanese renewable power producer Renova Inc (TYO:9519) announced on Friday it has secured financing for a 54.6-MW wind project in Kumamoto prefecture, southern Japan.
Details on the amount were not disclosed by Renova. The agreement was inked with a group of Japanese financial institutions with Sumitomo Mitsui Banking Corp (SMBC) acting as the lead manager and SMFL MIRAI Partners Co Ltd as the mezzanine lender.
Construction work on the site in the city of Reihoku has just started and the wind energy facility is expected to be up and running by the end of 2026. Once fully operational, the Reihoku Amakusa Wind Power Plant should be capable of generating 109,000 MWh per year, enough to meet the demand of 25,000 local homes.
SMFL MIRAI and NEC Capital Solutions Ltd are also involved in the project each with a 31% share in the ownership interest and shareholders loan. Renova has the right to purchase additional equity interests and shareholders loan after the project’s completion, which can bring its stake to 90%, the company noted.
