Pacifico Energy has announced that it will construct a 102MW solar plant in Ako, part of the Hyogo Prefecture.
The Ako plant is the latest solar project by the utility, one of 11 under construction throughout Japan, totalling 930MW, of which four have been completed, totalling 227MW to date.
The plant will be constructed on the site of a golf-course in Ako-gun, and operations are expected to start in the second quarter of 2021. Once commissioned the plant will generate approximately 125 million kilowatt hours of electricity annually, and an annual reduction of approximately 5 tons of CO2 emissions. Kansai Electric Power Co., Inc. will purchase all electricity generated by the plant for 20 years at 24 yen per kilowatt hour, pursuant to Japan’s Act on Special Measures Concerning Procurement of Electricity from Renewable Energy Sources by Electric Utilities.
MUFG Bank, Ltd. arranged the lending syndicate, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Pacifico Energy. Ako G.K. and Baker McKenzie acted as legal counsel to Pacifico Energy Ako G.K. on this transaction.
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